Irmis for luxury commodities becomes the largest company on the Paris Stock Exchange

The French “Ermes” group of luxury commodities has exceeded its French giant “LVMH” LVMH “LVH”, to become the largest company in terms of market value when the CAC 40 is closed to the Paris Stock Exchange on Tuesday.

The value of the shares of “Irmis” on the stock exchange amounted to 248.6 billion euros (282.19 billion dollars), compared to 244.39 billion euros (277.41 billion dollars) for “LVAM”, the most important company specialized in luxury commodities in the world, according to the accounts of France Press.

This result makes Ermes the largest market value company in the “CAC 40” index, but also the third largest company in Europe, behind the German “SABB” software and the “Novo Nordesc” Drug -manufacturer group.

This result was recorded after a sharp drop in the stock exchange on Tuesday of the “LVC” group, the day after its results were published for the first quarter of the year, which analysts considered to be disappointing.

After the group’s suffering in 2024 from a decline in demand in China, one of its main markets, also facing geopolitical certainty, especially in the United States, where it suffers from a “slight decrease” in its revenues, according to the company, and an increase in customs duties. Since the beginning of January, the shares of “LVH” have decreased by more than 23 percent.

As for the company “Irmis”, it does not face a crisis. Since the first of January, the value of its shares increased by 1.5 percent in the “CAC 40” index, which is a noticeable progress in a situation whose difficulty increases for the luxury commodity sector, after a prosperity stage witnessed during the stage that followed the Kofid-19.

The world famous “Ermes” succeeded in the Kelly, Birkin and its silk tubes, in resisting the slowdown in global demand for luxury goods better than their competitors.

This is due to its classification in the category of “very luxurious” groups, as its goods buy “fashions of wealth”, compared to the “luxurious” classification only for “LVH”, according to the head of market activities in “Saksu Bank of France” Andrea Tueni to Agence France Presse. (Yakai News)