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 » Subscribe to CNBC: » Subscribe to CNBC TV: About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to earn more money at work? Take CNBC’s new online course How to Negotiate a Higher Salary. Expert instructors will teach you the skills you need to get a bigger paycheck, including how to prepare and build your confidence, what to do an |
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