Hermes a good investmentMonday, 05 September 2011
Luxury brand Hermès puts France's second biggest bank in the shade as it is valued
at €28bn on the Paris stock exchange.
The fashion pack has always known a Hermès handbag is a good investment but the clamour to invest in the exclusive French handbag-maker has given it a new wow factor: the super-luxury group is now valued far more highly than France's second biggest bank, Société Générale.
The makers behind the famous Kelly and Birkin bags, which can easily cost more than a car, and the Queen's favourite headscarves is now valued at more than €28bn (£24.5bn) on the Paris stock exchange, while SocGen is worth €18bn.
Hermes last week reported a slowdown in sales as it could not keep up with product demand from its stores.