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Investing.com -- Hermès International (OTC:HESAY) SCA has seen its market value cross the €300 billion ($322 billion) threshold as of Friday. This significant financial milestone brings Hermès a step closer to its primary competitor in the luxury industry, LVMH (EPA:LVMH) Moët Hennessy Louis Vuitton SE.
Hermès shares reached a record high following the announcement of its fourth-quarter results, which exceeded expectations. This comes less than two years after Hermès surpassed the €200 billion mark in April 2023.
This surge in market value is enabling Hermès to bridge the gap with LVMH, the largest company in the French CAC40 index. LVMH, which owns the Christian Dior (EPA:DIOR) brand and unsuccessfully attempted to acquire Hermès over 14 years ago, currently has a market value of approximately €358 billion.
Furthermore, Hermès is extending its lead over other industry giants such as Airbus SE (OTC:EADSY) and TotalEnergies (EPA:TTEF) SE. Both of these companies have market capitalizations that are less than half of Hermès, a leading provider of luxury handbags and scarves.
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