Hermes International SA

RMS: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€9,167.00	Ssnf	Sskfzxsrbw

Hermes Delivers Strong Growth in Q1 Helped by Ready-to-Wear, Jewellery; FVE Maintained

Jelena Sokolova

Apr 14, 2022

We are maintaining our fair value estimate for wide-moat Hermes as the company reported a strong start to 2022 with a 27% increase in first-quarter revenue at constant exchange rates. This compares with 23% organic growth for LVMH and 30% growth for that company's fashion and leather division.

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