Hermès's market cap is currently €228 billion, while LVMH's is €331 billion. Analysts expect Hermès to leapfrog LVMH by 2027, marking a significant achievement in the luxury sector.
Despite the luxury industry's post-COVID challenges, Hermès recorded the highest revenue growth in the luxury sector during the second quarter of 2024, according to Bank of America.
Axel Dumas, Hermès CEO, clarified that surpassing LVMH's size isn't a benchmark for them, stating, 'We don't sell the same products, so surpassing their size is not a goal as such.'
The historical rivalry with LVMH has shaped Hermès's trajectory, highlighted by Dumas stating, 'There is very little comparison between us,' distancing their brand identity from LVMH.
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