The French group Hermès surpassed LVMH as the world’s most valuable luxury company on Tuesday, April 15, after the actions in the manufacturer of Louis Vuitton fell after quarterly sales exesperated by Waker.
Hermès market capitalization reached € 248.6 billion ($ 280.5 billion) at the close of the negotiation in Paris, exceeding the LVMHS € 244.4 billion.
LVMH’s shares sank 7.8% a day after the group owned by the richest man in Europe, Bernard Arnault, reported a two percent drop in sales of the first quarter to 20.3 billion euros.
The producer of Louis Vuitton Bags and Dom Perignon Champagne reported a slight decrease in sales of the United States, where it generates a quarter of their income. The disappointing performance occurred before the “day of liberation” of April 2 of President Donald Trump, which included 10% tariffs on global imports.
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