Some highlights from Hermes’ recent AGM (1/x) Management wants to...
Leandro@Invesquotes
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Aug 25, 2026
~1 min read
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Some highlights from Hermes’ recent AGM (1/x)
Management wants to build a big business in India but there are still roadblocks. They have Indian customers that buy significantly abroad
Management wants to build a big business in India but there are still roadblocks. They have Indian customers that buy significantly abroad
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(2/x) “Some of our bags cost more to make than the sales price of bags from our competition”
Management insists that they monetize quality to a greater extent than desirability
Management insists that they monetize quality to a greater extent than desirability
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(3/x) Management believes that the drivers of luxury demand changed in the 2010s
From: GDP growth
To: real estate and the stock market
They believe is the only noticeable changed in demand they’ve seen over the past few decades
From: GDP growth
To: real estate and the stock market
They believe is the only noticeable changed in demand they’ve seen over the past few decades
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(4/x) They again claim that scarcity is managed due to limits to scaling production
Hermes can train 500 craftsman every year, but not more
Hermes can train 500 craftsman every year, but not more
