Core Insights - Hermès has demonstrated remarkable resilience by maintaining mid-teens growth over the past two years despite challenges in the luxury sector [1] Group 1: Company Performance - Hermès is characterized as a unique company with strong qualitative attributes [1] - The company has consistently achieved growth in a tough luxury market, indicating its strong brand positioning and operational efficiency [1] Group 2: Investment Strategy - The investment approach focuses on acquiring companies with excellent qualitative attributes at attractive prices based on fundamentals, with a long-term holding strategy [1] - The portfolio management strategy aims to avoid underperforming assets while maximizing exposure to high-potential investments [1]
Hermès: New Geographies And Non-Leather Categories Support A Strong 'Hold'