Dan,
The good: nice set up, the kind of thinking and process I would expect of a semester long project.
The not so good: Hermes is a French luxury brand: http://en.wikipedia.org/wiki/Hermès makes it confusing
The bad: this design is very underdeveloped for a 3rd year semester long project. The sketching is under par, and the final model does not look very final. On your next project I recommend a focus on 2d communication skills, form development, semantic form language, concept rendering and 3d CAD. This feels like you spent most of your time on research and did not spend enough time designing and prototyping the product.