Hermès, every mention
20 scenes (2026), the whole family · ← back to Hermès
tap a year for its mentions
every year 2026 anyone David Rosenthal 277Ben Gilbert 261Charlie Munger 4
Verbatim, from the transcripts: the passages where Hermès comes up
Ferrari: What happens when you staple a luxury brand to a sports team? (Audio) · Acquired
- ▶ 3:14 Ben Gilbert There are 10 times more Birkin and Kelly bags made each year over at Hermes than there are Ferraris.
- ▶ 1:00:20 David Rosenthal It's probably also worth a quick moment here to talk about the sort of Italian nature of beauty and luxury versus the French nature of beauty and luxury that we've covered on Hermes or LVMH.
- ▶ 1:02:12 David Rosenthal Like, who are the designers at Hermes?
- ▶ 1:02:15 David Rosenthal If you really know the house, if you really know Hermes, you probably know who the designers are, but for most Hermes clients, it's just like, oh, this is Hermes.
- ▶ 1:59:26 David Rosenthal But you couldn't talk to Enzo about how Hermes was managing its business, you know.
- ▶ 2:03:29 David Rosenthal If we were talking about Louis Vuitton or Hermes or Patek Philippe or Rolex, this would be all bad.
- ▶ 2:04:34 David Rosenthal Hermes doesn't have a couple hundred million teenage girls around the globe that have posters of Birkins on their walls that they have to please.
- ▶ 2:04:41 Ben Gilbert Ferrari is Hermes and Manchester United smashed together.
- ▶ 2:10:48 David Rosenthal The other luxury companies as Hermes.
- ▶ 2:10:51 David Rosenthal You know, you think Hermes is investing in efficiencies in their factories?
- ▶ 3:14:27 David Rosenthal By and large, at least with the current slash older generation, car guys are very different than like, you know, Hermes collectors or, you know, LV fans or,
- ▶ 3:20:06 Ben Gilbert So when you look at companies that don't have to do that, LVMH is 66% and Hermes is 71%.
- ▶ 3:24:02 Ben Gilbert And until the luxury slump where LVMH and Hermes and all these other companies got hit too in the last couple of years, it was trading around 50 X for their last few years.
- ▶ 3:24:12 Ben Gilbert Now, for reference, most automakers trade at eight to 10 X, and Hermes trades at 35 to 60 X, again, big swing the last few years, and LVMH sort of around 25 X.
- ▶ 3:32:16 David Rosenthal On the other hand, I think it's not quite as powerful in terms of driving profit margins for a Ferrari as it is for, say, a LVMH or an Hermes.
- ▶ 3:38:22 Ben Gilbert You and I have always talked about it as a Costco in the front and Hermes in the back.
- ▶ 3:49:16 Ben Gilbert Is it a member of the Hermes family?
- ▶ 3:58:12 Ben Gilbert If you liked this episode, go check out our episodes on Porsche, Rolex, Hermes, and LVMH.
Formula 1: Fast cars, celebrities, and B2B software (Audio) · Acquired
- ▶ 18:48 David Rosenthal There's another very different founding pillar number two of F-One taking place in Monaco, which is that in 1956, the sovereign Prince Rainier III of Monaco, as we talked about at great length in our Hermes episode, married the American…
- ▶ 24:33 David Rosenthal And so, just like the equestrian heritage kind of serves as the, like, legitimizing soul of Hermes, motor racing in F-One serves as the legitimizing soul of Ferrari.