$RMS is sometimes referred to as the most valuable luxury brand in the world, doing almost €12 billion in annual sales with software-like margins.
We have in this thread curated the highlights from last week's earnings call & slide deck 🧵👇
We have in this thread curated the highlights from last week's earnings call & slide deck 🧵👇
"Independence means freedom, being more free than others"
Axel Dumas, a sixth-generation member of the Hermès-Dumas family, on $RMS' capital allocation framework:
Axel Dumas, a sixth-generation member of the Hermès-Dumas family, on $RMS' capital allocation framework:
Products from absolute luxury brands like $RMS and Patek Philippe are resold at much higher prices:
$RMS are vertically integrated, meaning they manufacture the majority of their products themselves instead of through third-parties like the regular retail market:
$RMS' sales were remarkable in 2022 despite the macro dynamics, even in Greater China:
After a record 2022, $RMS will pay out a bonus of €4000 to all of its employees:
$RMS is carefully balancing growth and artificial scarcity/selectivity to capture demand without diluting the brand:
Growth by sector:
Apparently there are some very exclusive $RMS bags that have a 10-year waiting list:
$RMS does not look at what others are doing, but instead carving its own path:
10 years of $RMS financial development:
2023 will be a year of investments, which means the record 40% margins will take a short-term hit:
E-commerce is still seeing a very strong trend at $RMS, although Axel find it pointless to separate digital from physical sales in the company's reports:
$RMS ordinary dividend per share is up ~3x since before the pandemic:
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