Full Episode
So I don't know if you realize this, Hermes is reporting earnings in like two days. Yes. And at first I was like, we should probably not do this episode because their annual report comes out in two days. What if we're not current? And then I realized this is Hermes. The short term is of no consequence. Yeah.
Also, the Hermes annual reports are the most beautiful annual reports ever created in the history of the financialization of mankind.
You might think you can't do all of your charts in orange. You need different colors, but you would be wrong.
The illustrations, the themes, you can tell they care. You can tell. All right, let's do it. Let's do it.
Who got the truth? Is it you? Is it you? Is it you? Who got the truth now?
Welcome to Season 14, Episode 2 of Acquired, the podcast about great companies and the stories and playbooks behind them. I'm Ben Gilbert.
I'm David Rosenthal.
And we are your hosts. Today, we tell the story of a handbag company that won't sell you a handbag. A traditional saddle maker that makes very little of their revenue from saddles. A company that somehow has grown to be worth over $200 billion despite rejecting manufacturing efficiencies and economies of scale.
a company so obsessed with craft and a reputation for quality that they have stayed independent while every other luxury brand has merged into conglomerates. That's right, listeners. Today, we tell the oldest story we have ever told here on Acquired, older than Standard Oil or The New York Times. This company dates back to 1837 in Paris, France, the crown jewel of the luxury industry, Hermès.
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