Hermes overtakes LVMH in market cap to become most valuable luxury company

LVMH ceded its title as the world’s most valuable luxury company on Tuesday, as its market capitalization dropped below rival Hermes. The market capitalization of LVMH, known for brands like Louis Vuitton, Dom Perignon, Givenchy, Tiffany & Co. and TAG Heuer, hovered around 244.1 billion euros as of …