Hermès Market Value Surpasses LVMH, Which Once Tried to Buy It

Bloomberg2025-04-15

Hermès’s market capitalization surpassed that of rival LVMH, the conglomerate which once tried to buy the maker of the coveted Birkin bag in a stealth raid that shocked the French corporate world 15 ...

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Hermès had sales of €15.2 billion and an operating profit of €6.2 billion in the period.Hermès has weathered the downturn in demand for luxury goods better than rivals by catering to the wealthiest and by cultivating a finely calibrated sense of exclusivity and managed scarcity.The supply-constrained business model has ensured that demand for its handbags like the Birkin — named after the late British singer-actress Jane Birkin — and the Kelly — inspired by Princess Grace Kelly — outstrips what’s on offer.These bags can sell for about €10,000 in Paris and can fetch much higher prices on the resale market. Founded as a harness-maker in 1837, Hermès enjoys strong pricing power and waiting lists for its products.In contrast, LVMH’s valuation may be hurting from what analysts say is a conglomerate discount, with assets such as Sephora enjoying lower margins than its cash cow brand Louis Vuitton.On Monday, LVMH posted first-quarter results that were much worse than expected at its key fashion and leather goods unit. Hermès will publish its quarterly sales Thursday.While Arnault often dominates the world’s richest list — he currently ranks fifth on the Bloomberg Billionaires Index — the Hermès family, whose sixth generation heir Axel Dumas runs the saddle maker, is Europe’s wealthiest with an estimated fortune of about $171 billion as of December.In February, Hermès’ valuation briefly crossed the symbolic €300 billion level but concerns about a trade wars and tariffs have since hurt the wider luxury sector.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":4,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1143968540","isCrawlerRequest":true}