Acquired
Hermès
Unnamed Speaker
But just a small fraction of that is actually on marketing or what they call communication. It's just 4.5% of their revenue. And if you compare that to LVMH, which spends over one-third of their revenue on sales and marketing combined – so that's 23% for sales and marketing at Hermes compared to 33% at LVMH – I mean, that's a huge difference.
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