This is kind of disturbing, considering we're in a recession. French luxury goods group Hermes apparently is hard pressed to keep up with the demands for luxury leather bags, which can cost over $48,000. There just aren't enough crocodiles, apparently.
"It can take three to four crocodiles to make one of our bags so we are now breeding our own crocodiles on our own farms, mainly in Australia," Patrick Thomas told the Reuters Global Luxury Summit in Paris.
Hermes already faces a major challenge producing 3,000 crocodile bags a year, Thomas said, adding: "The world is not full of crocodiles, except the stock exchange!"
Read the full story on Reuters.
Those poor crocs.