Hermes helps Paris bourse bag top spot from London

Maker of the iconic Birkin handbag soared past €200bn in market value for the first time, surpassing Swiss drugmaker Novartis

06 April 2023 – 15:57 Angelina Rascouet and Julien Ponthus

Hermes International, the maker of the iconic Birkin handbag, soared past €200bn in market value for the first time ever this week, surpassing Swiss drugmaker Novartis.

The stock has been rallying along with other luxury shares this year as investors see the sector as capable of withstanding an economic downturn, especially as China’s post-Covid recovery revives demand for high-end designer items. Hermes has rallied about 30% so far in 2023…

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