Hermès has dethroned LVMH as the world’s largest luxury group in terms of market value. LVMH is much larger in terms of turnover, but investors see more future in Hermès, which raised its turnover by 7 % while other luxury giants suffered.
Exclusive is better
Hermès increased its turnover by 7.2 % year-on-year (at constant exchange rates) to 4.13 billion euros in the first quarter of 2025. While that is a significantly slower than the 18 % growth in the previous quarter, Hermès still performed better than many of its competitors. For example, LVMH had to admit a 3 % drop in turnover.
