Luxury designer brand Hermès has announced it is to pull out of House of Fraser in Glasgow, its only Scottish store.

The company said it will cease trading at the Buchanan Street department store on March 31.

An email sent by Catrine Miquel, Glasgow manager for the brand, thanks customers for their loyalty and directs customes to other stores in London, Manchester and Dublin.

HeraldScotland:

At one point, the Fraser's concession was regarded as one of the brand's most succesful, outside Paris and London.

Family-owned for five generations, the iconic French brand is best known for their handbags, creating signature products for stars including Jane Birkin and Grace Kelly.

HeraldScotland:

Hermès Glasgow is said to have sold a Birkin bag for £29,000 and had a waiting list of eight for those that start at £15,000.

In 1937, the brand introduced the silk scarf which instantly became a hit with celebrities including Jacqueline Kennedy. Today, one is sold every 20 seconds.

A study conducted by Baghunter showed that the iconic Birkin bag has been a better investment than stocks or gold over the previous 35 years.

HeraldScotland:

Famous clients of Hermes include Madonna, Elle MacPherson, Kim Kardashian, Victoria Beckham, Nicole Kidman, and Julianne Moore.

Mike Ashley, Chief Executive, of Frasers, warned in August last year of further store closures at the chain when the business rates holiday comes to an end, even as he forecast a rise of up to 30 per cent in underlying profits at his retail group.

The outspoken boss, who owns Sports Direct, said reform of UK business rates was urgently required to prevent huge job losses across the retail sector.

He entered the department store industry following the acquisition of House of Fraser post-administration in 2018.