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French luxury company, Hermès, has managed to achieve the ultimate goal of luxury: keep demand high and supply low. In its Q3 2024 earnings, the company posted double digit sales and revenue growth of 11% and 14% respectively. Competitors like LVMH and Gucci owner, Kering, were in the negative. Though the company is small, comprised only of one brand, it keeps up with the conglomerates, recording a higher price-to-earnings ratio than most of its rivals and a $233 billion market cap on October 24, 2024.
Correction:
0:58 - We misstated the company's share price. The correct share price is more than $2,200 a share.
Chapters:
0:00 Introduction
1:49 Chapter 1. A bet on exclusivity
4:12 Chapter 2. Beating competition
6:46 Chapter 3. Risks ahead
Produced and edited by: Natalie Rice
Animation by: Jason Reginato, Christina Locopo
Edited by: Kevin Heinz
Senior Managing Producer: Tala Hadavi
Additional footage: Hermès, Getty Images, AP Photo, Reuters
Additional sources: FactSet, Hermès
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