In Lahore, Pakistan, the minimum wage for a laborer is Rs32,000, while the French luxury design house Hermes has introduced a diary-sized paper bag priced at Rs34,800 ($125). This reusable bag, available in A4 and A5 sizes, is designed for carrying a diary or perfume. The 7.5-inch paperweight from the same brand is priced at Rs822,000 ($2,950), exceeding the annual basic income of a college lecturer in Pakistan.
Hermes is renowned for its sandals, handbags, and accessories. The price of Hermes sandals is Rs21.4 million ($76,000), and the world’s third most expensive Hermes Kelly Gold Rose bag is priced at Rs557.4 million ($20 million). The fourth and fifth most expensive handbags, also from the French brand, cost Rs390 million ($1.4 million). Women have to wait 3 to 4 years after booking handbags from these luxury brands.
Hermes belongs to one of the world’s richest families, with a wealth exceeding $151 billion, according to Bloomberg. In 2019, fashion designer Debbi Winghum introduced the most expensive handbag adorned with 8,000 diamond stones, priced at $6.7 million. The second most expensive was the Mouawad handbag, priced at Rs3.8 million, known for its jewelry items and recognized by the Guinness Book of World Records as the most expensive handbag.
According to a property website, the price of a 1,500 to 2,000 square feet house in Defence Karachi ranges from Rs200 million to Rs320 million, while a bungalow in Lahore Defence is priced at Rs70 million. Conversely, the world’s most expensive shoes, Moon Shoes, were sold for Rs5.61 billion.