Hermès leapfrogs LVMH to become Europe's most valuable luxury company after the Louis Vuitton owner reported downbeat results [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
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Source: Yahoo! Finance
Hermès' market capitalization eclipsed LVMH's on Tuesday morning by around €210 million , making the Birkin bag maker the most valuable luxury company in Europe, and on France's CAC40 index. As of 11.30 a.m. London time, Hermès' market value was €248.2 billion while LVMH's was €246.8 billion. LVMH's shares were down as much as 8% following the market opening in Paris, as the company reported a 3% decline in first-quarter sales on Monday. Given its large size and presence across leather goods, spirits, and more, the French conglomerate is widely seen as the bellwether of the luxury sector. The company has also been impacted by the cyclical demand for high-end goods in recent years, as economic pressures have pushed shoppers to rethink their luxury purchases. LVMH's 2024 sales dropped by 2% to €84.7 billion, while net profit sunk 17% year-over-year. The company now faces a market made tougher by tariff-related volatility. LVMH's CFO Cécile Cabanis maintained that the impact of
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