Ben Gilbert: belief

Transcript context

…Cliffhanger. Just to put some numbers and finish out the story, by 2018, revenue has grown from €3.5-€4 billion when Axel took over in 2013. By 2018, that's €6 billion. In 2019, it's €7 billion. It dips a bit during 2020 with the pandemic, but then €9 billion in 2021. Last year, €11. 6. Like we said, on track for €14 billion in 2023. This is an absolutely resounding success. As we've said, what Axel, Pierre-Alexis, and this generation of the family has done like all the generations before them has been nothing short of amazing, starting with the defense against Bernard. Incredible. I don't want to fully judge or leave a negative mark on the company solely because of the Apple watch thing, but I just got to say, we've seen with a few times here in these generations that the seeds of the next challenge are sown in the current generation. I wonder if this is it here. Hermes has always thrived by figuring out how to be above it all and it be counterposition to the rest of luxury. It's an open question, I think, of whether the Apple partnership helps that or hurts that. Okay, a few more stats on the business today before we move into analysis. Does that sound good to you, David? Great.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.