How Hermès is bucking the global luxury slowdown
Publishing timestamp: 2024-10-31 08:00:01
Summary
Herms' focus on quality, scarcity, and desirability has helped it dominate the luxury sector, with products like the Birkin and Kelly handbags driving demand. Despite a pullback in luxury spending globally, Herms has seen double-digit revenue growth and its shares have risen while competitors have fallen. High-end consumers continue to prioritize valuable and distinct products, where Herms excels.
Sentiment: POSITIVE
Tickers: MC-FR, CFR-CH, KER-FR, RMS-FR,
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Source: https://www.cnbc.com/2024/10/31/how-herms-is-bucking-the-global-luxury-slowdown.html