Hermes continues to outperform the luxury sector with double-digit organic growth even as LVMH and Kering decelerate, validating the ultra-premium positioning thesis. Birkin and Kelly leather goods supply constraints sustain pricing power and waitlists. Family ownership and disciplined capacity expansion protect brand exclusivity. Margin profile and FCF conversion among best-in-class luxury. Geopolitical insulation through truly UHNW customer base.
Thesis reviewed May 29, 2026
Hermes International is headquartered in France, which is currently showing moderate signals.
π«π·France48NEUTRALView France risk detail βπConsumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Ξ | Action |
|---|---|---|---|---|---|
| JD | JD.com Inc | 27 | +13% | β2% | EARLY |
| NIO | NIO Inc | 27 | -10% | β2% | AVOID |
| LI | Li Auto Inc | 27 | +7% | β2% | NEUTRAL |
| BTI | British American Tobacco PLC | 27 | +14% | β2% | EARLY |
| DEO | Diageo PLC | 27 | +8% | β2% | NEUTRAL |
| RACE | Ferrari NV | 27 | +17% | β2% | EARLY |
| TM | Toyota Motor Corporation | 27 | +12% | β2% | EARLY |
Investors who hold HESAY may also have indirect exposure through these country funds.
Hermes Q1 organic growth +14%, dramatically outpacing luxury sector
Leather goods division capacity expansion announced with new French ateliers
Estimates Β· Yahoo Finance Β· Not audited figures