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.
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