The Exceptional Economics of Hermès
Investors in the Elevation Capital Global Shares Fund own shares in Hermès International S.A. (RMS: ENXTPA), a leather good, luxury powerhouse best known for its infamous Birkin and Kelly Bags. Hermès is the epitome of luxury, offering premium goods such as bags for men and women, ready-to-wear garments, and accessories. Rising to prominence in the late 19th century as a saddlery manufacturer, Hermès has reigned supreme for six generations operating 315 exclusive stores and employing 15,000 artisans, who must each progress through a two-year training program before they are permitted to begin working with Hermès leathers. Performance over the last 10 years has been nothing short of exceptional and we believe that Hermès recent market de-rating provides investors in the Fund an attractive entry point to a business with exceptional margins, returns on capital and future prospects. To learn more, please read our Investment Summary Report by clicking the link below.
