How Hermes became Europe’s biggest family fortune

Since that October day 13 years ago, Hermès International shares have risen more than 1000 per cent, smashing the 600 per cent gain at LVMH. Hermes’ market value has soared to more than €200 billion ($US216 billion), about 60 per cent of LVMH’s — with roughly one-seventh the revenue. Once vulnerable to predators as complacent family members got involved in other endeavours, Hermes’ success has provided the group its best defence.

It has made the family, which now counts more than 100 members, Europe’s richest, with a combined fortune this year of about $US151 billion, according to the Bloomberg Billionaires Index. That’s up about 59 per cent from last year, making it the world’s third-wealthiest and putting it ahead of the US’s Mars and Koch clans, the House of Thani — the ruling family of Qatar — and the Al Sauds of Saudi Arabia.

https://www.watoday.com.au/business/companies/how-hermes-became-europe-s-biggest-family-fortune-after-spurning-lvmh-s-wolf-in-cashmere-20231208-p5eq5h.html