Hermes overtakes LVMH in market cap to become most valuable luxury company

LVMH ceded its title as the world’s most valuable luxury company on Tuesday, as its market capitalization dropped below rival Hermes. The market capitalization of LVMH, known for brands like Louis Vuitton, Dom Perignon, Givenchy, Tiffany & Co. and TAG Heuer, hovered around 244.1 billion euros as of mid-morning Tuesday, lower than Hermes and its market cap of 248.1 billion euros. At their current market caps, Hermes became the most valuable luxury company in the world. It is known for Birkin handbags and oth ...