US EditionHermès overtakes LVMH for luxury’s top spot after weak sales spark sell-off
- Hermès surpassed LVMH to become the world's most valuable luxury company, with a market cap of €243.65 billion , after LVMH reported a 3% decline in first-quarter sales, below analysts' expectations of a 2% rise.
- As of Tuesday, Hermès was valued at €243.65 billion compared to LVMH's €243.44 billion after LVMH's stock fell more than 8%.
- Bernard Arnault, CEO of LVMH, has seen his net worth decrease by $13 billion this year and remains one of the world's wealthiest people at $165 billion.
- Analysts have indicated that the luxury sector, particularly LVMH, will experience continued earnings downgrades, affecting share prices in the near future.
31 Articles
31 Articles
Hermes overtakes LVMH as world's most valuable luxury group
PARIS, France — French group Hermes overtook LVMH as the world’s most valuable luxury company on Tuesday after shares in the Louis Vuitton maker tumbled following weaker-than-expected quarterly sales. The market capitalization of Hermes reached 248.6 billion euros ($280.5 billion) at the close of trading in Paris, topping LVMH’s 244.4 billion euros. LVMH shares sank 7.8 percent a day after the group owned by Europe’s wealthiest man, Bernard Arna…
LVMH falls from number one in market capitalization for the first time in 26 years; Hermes, targeting the ultra-rich, reclaims it
[London - Yumae Sotaro] On the 15th, France's LVMH Moët Hennessy Louis Vuitton lost its position as the European luxury brand with the highest market capitalization to France's Hermes International. The results of the latest financial statements were disappointing, and the stock price plummeted due to concerns about the future. As spending by the middle class in China and the US declines, the strength of Hermes, which has many wealthy customers …
Hermes surpasses LVMH and becomes the most valuable luxury brand in the world - HotNews.ro
Hermès has become the most valuable luxury house in the world, narrowly surpassing LVMH (Moët Hennessy – Louis Vuitton). Due to the sharp decline generated by disappointing quarterly sales, the brand led by Bernard Arnault has…
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