Hermès’s stunning success raises the question: What’s everyone else in luxury doing wrong?

people walking outside hermes store (Credit: Cheng Xin—Getty Images)

One look at Hermès’s 2024 results will make you wonder if it operates in a different sector. 

The Birkin maker has had a market-defying growth stream at a time when many of its luxury peers are languishing. Only recently has Hermès shown signs of improvement, although it might still be too early to read the tea leaves.