Hermes pips former suitor LVMH in market cap

Hermes’s market cap at $276.3 billion surpassed that of rival LVMH Moet Hennessy Louis Vuitton, the conglomerate which tried to buy the maker of the Birkin bag 15 years ago. The reversal comes after LVMH fell 8% following disappointing results on slowing demand in China and the US amid an escalating trade war.