Hermès Crosses €300 Billion Market Value, Edging Closer to LVMH
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Hermès crossed the €300 billion level in market value on Friday, allowing the maker of the famed Birkin bag to inch closer to its luxury industry arch-rival LVMH.
Shares of Hermès International SCA hit a record after it posted estimate-beating results in the fourth quarter, valuing it at about €307 billion ($322 billion) as of 9:24 a.m in Paris. The move comes less than two years after the company surpassed the €200 billion mark in April 2023.