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Acquired

Hermès

4542.098 - 4571.623 Unnamed Speaker

This is an important distinction between Hermes and all the brands you just named. They come from the world of couture and of fashion and of cutting-edge, in-your-face, risky art. And Hermes comes from, I mean, mind you, by this point, they're already 120 years old, 130 years old. They come from the world of leather and horses and durable goods that stand the test of time. And frankly, it's

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