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leather prada bag will be tanned and sent to an atelier because to call it a workshop would be declasse in the French town of Pantin. There, one of a few dozen highly skilled craftsmen will spend 48 hours over two weeks using tools specifically made for this task. He will use his own hands, two needles, a trademark stitch and a proprietary linen thread soaked in beeswax to craft one of the world's most expensive and highly sought after luxury goods: the Hermes handbag.People put their names on lists and wait two to three years to own such a bag. They spend tens of thousands of dollars on scarves and jewelry and clothing just for the opportunity to spend thousands more on a crocodile skin pocketbook.It is that obsessive demand combined with an intentionally limited supply that has allowed Hermes to prosper in an economic environment that has decimated its competition.While many of its competitors are suffering under the strain of the global recession, Hermes, an iconic brand famous for its silk scarves and handbags, had a remarkably good first quarter. As some luxury brands like Gianni Versace shutter their stores, Hermes plans to open several new shops this year.The French based company's sales rose 3.2 percent to $603 million over the first three months of the year. Much of that growth is attributed to sales of leather goods, which rose 21.7 percent to $287 million."Hermes' position is unique; it is at the very top of the pyramid in terms of luxury goods," says Francesca Di Pasquantonio, a Hermes analyst for Deutsche Bank in Milan, Italy."The goods are very expensive. They make you pay for the quality they provide and the brand is classic, an icon. Handbags are the core of the business and a successful product. They are produced only in limited numbers, never overwhelming the market," she says.Robert already owns a crocodile Kelly bag, one of Hermes' two most sought after lines and named for actress and princess Grace Kelly. As for the highly desired other line, the Birkin, she says: "I totally want a Birkin."Robert, a New York City real estate broker who gives her age as "grandmother," is a self described "handbag lover" who insists she is "not an indulgent person" but owns