Hermès eludes luxury slowdown, could overtake Louis Vuitton as top brand, analyst says [Yahoo! Finance]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance
Hermès ( RMS.PA ) continues to resist a slowdown in the luxury industry. And according to a recent note from Citi, the 187-year-old French luxury design house could dethrone LVMH-owned ( LVMUY ) Louis Vuitton as the biggest luxury brand in the world. Hermès sales could reach 20 billion euros — a "symbolic" revenue mark that Louis Vuitton hit in 2022 — in the next three years, wrote Thomas Chauvet, head of luxury goods equity research at Citi, in an April 12 note. For the full year 2023, Hermès saw sales of 13.4 billion euros ($14.3 billion). “We think Hermes could ultimately surpass Vuitton as the industry's largest brand by turnover,” Chauvet added. Hermès International Société en commandite par actions (RMS.PA) Sign in to add to watchlist Full screen On Thursday, the Birkin bag maker reported that first quarter revenue rose 17% annually to 3.8 billion euros ($4.1 billion), led by leather goods sales. Hermès also saw double-digit sales growth across all regions, includ
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