Hermès

12302.274 - 12323.779 David Rosenthal

No, I like that. Actually, it's rare to have counter positioning at scale. As Hamilton would put it, counter positioning is usually a takeoff phase power. Yep. I think there's an element of that. You could dissect how much of that particular element is actually part of the Hermes brand versus counter positioning in and of itself. But I buy it. I think at the end of the day, though.