Hermes Can Surpass Vuitton as Luxury’s Biggest Brand, Citi Says
- Hermes sales to reach €20 billion level by 2027, Citi predicts
- Hermes shares have outperformed sector this year with 20% gain
Hermes’ shares have outperformed fellow luxury goods stocks with a 20% gain so far this year.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Hermes has potential to surpass LVMH’s flagship Louis Vuitton in the coming years as the luxury industry’s biggest brand by turnover, according to Citigroup Inc. analysts.
The Birkin bag maker’s sales are set to hit the “symbolic” €20 billion ($21.3 billion) level by 2027 or before, Thomas Chauvet wrote in a note dated April 12 — a milestone that the Louis Vuitton fashion label reached in 2022. Hermes generated group revenue of €13.4 billion in 2023.