Think about it....without the Hermès logo nothing at Hermès is really worth very much.
How much would you pay for a Birkin bag without the Hermès logo? Or, how about an exact copy of a "Garden Party" bag (it's not too difficult to make one, they're not even made in the Hermès ateliers) without the Hermès logo?
Anyone can buy a "chaine d'ancre" sterling silver bracelet in most airports for around $100....but at Hermès that same bracelet is $1,000+ ...
Bottom line? This is the single most valuable thing at Hermès (do you think they keep them in the safe?):