Hermes Can Surpass Vuitton as Luxury's Biggest Brand, Citi Says [BNN Bloomberg (Canada)]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: BNN Bloomberg
The Birkin bag maker's sales are set to hit the “symbolic” €20 billion ($21.3 billion) level by 2027 or before, Thomas Chauvet wrote in a note dated April 12 — a milestone that the Louis Vuitton fashion label reached in 2022. Hermes generated group revenue of €13.4 billion in 2023. “Hermes enjoys one of the most predictable growth, margin and cashflow profiles in the luxury industry,” said Chauvet. The analyst highlighted the French firm's pricing strategy, which ranges from affordable to ultra-luxury, its control over distribution and opportunities to grow in categories beyond leather such as ready-to-wear, watches, jewelry and tableware. While there have been concerns over a slowdown in demand for high-end items following a post-pandemic boom, Hermes' shares have outperformed fellow luxury goods stocks with a 20% gain so far this year. A gauge tracking the industry is up just 6.8% over the same period, while LVMH has risen 8.2%. The stock gained 1.8% Monday, taking it closer
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