How Hermès is bucking the global luxury slowdown [CNBC]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: CNBC
Coveted products such as its Birkin and Kelly handbags — named after icons Jane Birkin and Princess Grace Kelly of Monaco — consistently drive demand, even when most consumers pull back their spending. Analysts say the Birkin and the Kelly account for between 25% and 28% of Hermès' total revenue. The bags often double or triple in value on the resale market. “I think they're also difficult to get, and that adds to the cachet and the desirability of the brand,” said Luca Solca, senior analyst of global luxury goods at Bernstein. “It's a sign of distinction, then desirability is also going to be increased as a consequence.” For fiscal year 2023 Hermès reported the fourth-highest revenue total of the major luxury fashion brands, behind LVMH Richemont and Kering Hermès has fewer than 300 storefronts, but it keeps up with its larger competitors. In its most recent quarter , Hermès posted double-digit revenue growth while competitors LVMH and Kering reported sharper-than-expected d
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