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, while LVMH's valuation fell to €243.44 billion due to poor sales.
- LVMH reported a 3% decline in first-quarter sales compared to an expected rise of 2%, impacting its stock price negatively.
- Over the past 12 months, LVMH's stock has decreased by 38%, while Hermès shares have risen by 2%.
- Bernard Arnault is the CEO of LVMH, which has faced challenges in the luxury sector, indicated by reduced earnings per share forecasts from analysts.
46 Articles
46 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 …
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