Hermès

12494.52 - 12512.98 Unnamed Speaker

I mean, the only thing that it has in common are these goods are sold at a phenomenal margin, just like Louis Vuitton. But I sort of came around to this idea that actually we're not making any of the same points at all. They managed to sell the same exact product category totally different, and they've constructed an entirely different business model around the same products.