LVMH

“It's our number one episode by a huge margin. 40,000 more people have listened to that episode than the next highest, which was amazon.com.”

“And LVMH, we got. 40,000 new subscribers.”

“LVMH's gross margins, 68%. It turns out you can mark up leather way more than you can mark up cars.”

“Well, if you're as good as they are, what they've done, you have a lifetime to do it in, or now a lifetime, really three or four lifetimes to do it in. You can create another, but it's not easy.”

“I highly suspect he might be the best entrepreneur on the planet that's still operating and running his company right now. And if you think about the fact that he knows everything down from the tiniest details, which there's crazy stories about this, to the bi…”

“I think LVMH, that episode alone, I think, completely changed, acquired.”

“Is that those stories and studying the LVMHs, the Costcos, the Nikes of the world, if anything, that's like even more important than studying the great technology companies for building a great technology company.”

“Novo Nordisk has become Europe's largest company, surpassing even LVMH last year”

“Well, LVMH's total turnover in twenty-twenty-two was 24%, versus Hermes's six percent.”

“LVMH, as we talked about on that episode, has world-class, best-in-the-world business executives who partner with world-class, best-in-the-world creatives. At Hermes, these are not different people.”

“As much as they sort of get lumped together with brands owned by LVMH, they are in many ways the anti-LVMH.”

“Hermes is the most insulated of all the luxury brands where they have the sort of least cost-sensitive clients.”

“So in 2001, right after he lost Gucci, Bernard quietly buys an initial stake in Hermes of 4.9%. Now I believe that was just under the threshold that they would have to disclose it under French securities regulations. And then, here's what they do that the Herm…”

“There's the opposite of scale economies to an individual luxury brand, but at the group level There is power, and specifically scale economies power, that does not exist at the brand level.”

“He takes the Hermes shares and does a share swap. So swaps that value directly With the 25% of Dior that he doesn't own, to bring that first into Group Arnault, his family office, and then he trades that into LVMH. So LVMH now finally, as a result of this, is …”

“From, let's call it the real beginning of when LVMH publicly announces Their stake in Hermes. So, twenty-ten. Hermes' market cap is up 16 X.”

“So the LVMH deal is a hundred million dollars per year, and that's the Louis Vuitton banners everywhere, Tag Heuer being the official timekeeping sponsor, the LV trunk, and of course they spray Moet all over each other on the podiums.”