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Whoever wins the 2024 U.S. election should work to preserve America's energy dominance rather than risk losing it, TotalEnergies CEO Patrick Pouyanne told CNBC on Monday. The U.S. is the world's largest oil producer, accounting for 22% of the global total, according to the Energy Information Administration, with Saudi Arabia next, producing 11%. The vast majority of U.S. crude is consumed within the country, which is also the world's largest oil consumer. Roughly 64% of total U.S. crude oil production is shale and the French international energy firm CEO said the U.S. will also soon be No. Looking ahead to the election, former President Donald Trump and the Republican party have long been proponents of U.S. shale production, pushing for deregulation of the industry and an expansion of drilling projects — drawing the ire of climate activists and many on the left.
Persons: Patrick Pouyanne, Pouyanne, CNBC's Dan Murphy, Donald Trump Organizations: CNBC, Energy Information Administration, French, U.S, Republican Locations: U.S, Saudi Arabia, Abu Dhabi
Seven French families have filed a lawsuit against social media giant TikTok, accusing the platform of exposing their adolescent children to harmful content that led to two of them taking their own lives at 15, their lawyer said Monday. The lawsuit alleges TikTok’s algorithm exposed the seven teenagers to videos promoting suicide, self-harm and eating disorders, lawyer Laure Boutron-Marmion told broadcaster franceinfo. They must, therefore, answer for the product’s shortcomings.”TikTok, like other social media platforms, has long faced scrutiny over the policing of content on its app. Just like Meta (META) with Facebook and Instagram, it faces hundreds of lawsuits in the United States accusing the companies of enticing and addicting millions of children to their platforms, damaging their mental health. CEO Shou Zi Chew this year told US lawmakers the company has invested in measures to protect young people who use the app.
Persons: Laure Boutron, Marmion, franceinfo, , , TikTok, Shou Zi Chew Organizations: Facebook Locations: Boutron, Europe, United States
Snapchat says it averages 850 million monthly users. Meanwhile, Twitter's current owner, Elon Musk, says his service has 600 million monthly users. Back in April, Meta said Threads had 150 million monthly users. Some of them click on Threads posts they see there, and become Threads users that way. Threads doesn't seem like it's ever going to be that, and Meta doesn't seem very interested in trying to make that.
Persons: , Mark Zuckerberg, Snapchat, Twitter, Elon Musk, Meta, It's, You'll, Katie Notopoulos, Adam Mosseri's Organizations: Service, Twitter, US Securities and Exchange Commission, Meta Locations: Japan, Taiwan, Instagram
CNN —At least 25 people, including several children, died after their boat was “deliberately capsized by traffickers” near the Comoros Islands, the local office of the International Organization for Migration (IOM) said Monday. “IOM Comoros is saddened to hear about the deaths of at least 25 people after their boat was deliberately capsized by traffickers off Comoros Islands, between Anjouan and Mayotte on Friday night,” the UN body said in a press release. The boat was carrying around 30 people from different countries including seven women and four children, IOM said citing five survivors who were rescued by fishermen Saturday morning. “Thousands of people have died on this migration route in an attempt to reach the disputed island of Mayotte, (an) island of the archipelago of Comoros and a French département since 2011,” said IOM. The agency emphasized “the importance of establishing safe and legal pathways for migration” to prevent such tragedies.
Persons: , , Organizations: CNN, International Organization for Migration, “ IOM Locations: Comoros, , “ IOM Comoros, Anjouan, Mayotte, , French
European leaders have struggled to formulate a unified Sino-European strategy, with some states echoing U.S. calls for a complete disassociation — or decoupling — while others have preferred a softer, derisking approach. China has urged France to take on "an active role" to push the European Commission towards a solution acceptable to both the European and Chinese electric vehicle industries, Beijing's commerce ministry said on Monday, citing its minister. Wang Wentao, in a meeting with French junior trade minister Sophie Primas in Shanghai on Sunday, reiterated the European Union's investigation into China's EVs is a major concern and has "seriously hindered" China-EU auto industry cooperation. The EU launched an anti-subsidy investigation into imports of Chinese-made battery EVs last year and in October voted for tariffs on those vehicles. China in the past year has launched its own investigations into European pork and dairy, and imposed temporary anti-dumping measures on imports of brandy from the EU early this month.
Persons: Wang Wentao, Sophie Primas Organizations: European Commission, French, Sunday, EU Locations: China, France, Shanghai, EU
They accuse Chnina of collaborating with Abdelhakim Sefrioui, a Franco-Moroccan who founded a hardline Islamist organization, the Cheikh Yassine Collective, subsequently banned in France. Chnina’s lawyer declined to comment ahead of the start of the trial. Schoolchildren pay tribute to Paty at the Anne Franck college in Plescop, France, November 2, 2020. Both are charged with complicity in a terrorist killing, and French media say they have both denied wrongdoing. Chnina’s daughter was not in Paty’s class when the caricatures were shown and the court found her guilty of making false accusations and slanderous comments.
Persons: Paris Reuters —, Prophet Mohammed, Samuel Paty, Brahim Chnina, Chnina, Abdelhakim Sefrioui, Cheikh Yassine, Paty, Anne Franck, Stephane Mahe, Ouadie Elhamamouchi, Elhamamouchi, Abdullakh Anzorov, Anzorov’s, Chnina’s Organizations: Paris Reuters, Paty, Reuters Sefrioui’s, Reuters, Prosecutors Locations: Conflans, Honorine, Paris, Franco, Moroccan, France, Plescop, Sefrioui
Judith Kent, Jamie Dimon's wife, hit the campaign trail for Kamala Harris on Sunday. Kent went door to door to speak to voters in Lansing, Michigan. AdvertisementJudith Kent, the wife of JPMorgan CEO Jamie Dimon, was out in Michigan canvassing voters for Vice President and Democratic presidential candidate Kamala Harris on Sunday. "I have a lot of respect for Jamie Dimon," Trump told the outlet. In addition to Kent, the Harris campaign has won the support of multiple powerful women in business and entertainment alike.
Persons: Judith Kent, Jamie Dimon's, Kamala Harris, Kent, Dimon hasn't, , Jamie Dimon, Dimon, Harris, Maggie Haberman, Walz, Andrew Restuccia, I'm, I've, Donald Trump, Trump, BI's Grace Eliza Goodwin, Taylor Swift, Melinda French Gates, Laurene Powell, Gates Organizations: Service, Democratic, New York Times, Democratic Party, Kent, Harris, Business, JPMorgan, Bloomberg, Bloomberg Businessweek, Truth, Democratic National Committee Locations: Lansing , Michigan, Michigan, Lansing, Maggie Haberman . Michigan, Kent
The second round of voting pitted incumbent Maia Sandu against her Russia-backed Party of Socialists opponent Alexandr Stoianoglo, after neither candidate won a majority in the first round last month. With 99.9% of the responses at the poll counted on Monday morning, Sandu won 55.4% of the vote, compared to the 44.6% of Stoianoglo, according to Moldova's Central Electoral Commission. France will continue to stand beside Moldova on its European path," according to a CNBC translation. Ursula von der Leyen, president of the European Commission, likewise praised Maia Sandu, stating on X that "it takes a rare kind of strength to overcome the challenges you've faced in this election. I'm glad to continue working with you towards a European future for Moldova and its people."
Persons: Maia Sandu, Alexandr Stoianoglo, Sandu, we've, Olaf Scholz, Emmanuel Macron, Sandu's, Ursula von der Leyen, you've, I'm Organizations: Electoral Commission, Moscow, CNBC, European Commission Locations: Soviet, Russia, Moldova, Ukraine, Romania, Europe, Georgia, Russian, Republic of Moldova, France
Melanie Spring, 44, met her husband, Dan Russell, 33, in 2017. Melanie thought Dan was too young for her at first. I first met my husband, Dan, in 2017 at a three-night sleepaway camp for entrepreneurs when I was 37 and he was 26. When we first met, I thought he was too young, given our 11-year age gap. After the camp ended, I headed back to DC, and Dan headed back to Colorado.
Persons: Melanie Spring, Dan Russell, Melanie, Dan, , I'm, Breckenridge, he's, Dan didn't, couldn't Organizations: Service, Facebook, Jazz Aspen Locations: Colorado, Breckenridge ., Aspen, Denver
data center, in Navi Mumbai, India, on Thursday, Mar. Some of the options on the table include a pivot to nuclear, liquid cooling for data centers and quantum computing. A server room at a data center in India. Alongside nuclear energy and liquid cooling technology, some tech players have suggested developments within AI could help to decarbonize data centers. Aerial view of a data center owned by the US multinational and technology company Google in Santiago on October 9, 2024.
Persons: Somya Joshi, Frisio, Dhiraj Singh, Raj Hazra, Peter Herweck, Eric Schmidt, SEI's Joshi, Joshi, Hazra, Rodrigo Arangua Organizations: Yotta Data Services, Bloomberg, Getty, Big Tech, Stockholm Environment Institute, SEI, CNBC, International Energy Agency, Swiss, ABB, Microsoft, Google, Schneider Electric, Motivair Corp, Quantinuum, Afp, Honeywell Locations: Navi Mumbai, India, Mar, Stockholm, U.S, Santiago, South America, Quantinuum
Because we forget history, we forget that the American experiment cannot succeed without constant, courageous leadership. Our nation is not inherently good and our high ideals are often eclipsed by our baser nature. We also know that if American ideals depend on a single party for their protection, then that effort is doomed to fail. I’m writing those words in the context of a presidential contest that already represents a national failure. The United States will have come within an eyelash of electing a man who tried to overturn an election to cling to power.
Persons: Kamala Harris, Donald Trump’s Locations: America, United States
Conversations around Vice President Kamala Harris, by contrast, continued to focus largely around broader and more conventional stories about her campaign. The poll, conducted by SSRS and Verasight on behalf of a research team from CNN, Georgetown University and the University of Michigan, was fielded from October 25-28. Georgetown University, University of Michigan and s3mc.org“Numerous former officers in the 2016-2020 Trump administration are sounding alarms that Trump will dismantle democracy if he’s elected,” wrote one Democratic-leaning independent. Georgetown University, University of Michigan and s3mc.orgWhen the survey asked respondents what they’d been hearing about Harris, the words “campaign,” “rally,” “interview,” “polls” and “ad” all cracked the top 10. Overall, the sentiment behind the words Americans used in describing what they’d heard about both Trump and Harris remained more negative than positive, with the sentiment around Harris continuing to dip from the earliest days of her campaign.
Persons: Donald Trump, Kamala Harris, SSRS, Trump’s, Trump, , , Arnold, , Joe Rogan, “ Trump, , Hitler, , they’d, Harris, Jennifer Agiesta, Edward Wu Organizations: CNN, Georgetown University, University of Michigan, Madison, Fame, , Trump, Beyoncé Locations: Puerto Rico, Houston
Almost 50,000 pounds of artisanal cheese were stolen in a sophisticated heist in the UK. AdvertisementOne of the most sophisticated cheese heists in history has left British cheesemakers reeling and facing an uncertain future. Neal's Yard unwittingly delivered the cheese, estimated to be worth about £300,000 ($390,000), to the fraudsters before realizing they were not legitimate buyers. "One of the things that made it so appealing was thinking that we'd see British cheese in a French supermarket." Calver said Neals Yard Dairy's ability to survive the financial loss is critical for the sector.
Persons: , fraudsters, Matt Austin, Ben, we'd, Trethowan, Tom Calver, they've, we've, Ticehurst, Brothers Todd, Maugan, David Lockwood, Calver, Todd Trethowan, Nicholas Saunders, Randolph Hodgson Organizations: Service, BBC News, Metropolitan Police, Business, Westcombe, Neal's Locations: French, British, London, Netherlands, Gouda, Trethowan, cheddar, Covent Garden
I got fed up and started spending weekends in Madison, a coastal Connecticut town. So, I found my own "dupe" of the Hamptons about 100 miles away in New England: Madison, Connecticut. Related Video All the differences between Starbucks in Italy and the USThe town defines coastal calm, with just about everything the Hamptons has minus the crowds. Madison has plenty thanks to the Sculpture Mile, a free outdoor public art installation of museum-quality sculptures scattered around town. There's often something happening on the town greenMadison's historic town green is its leafy centerpiece.
Persons: , I've, Madison isn't, Madison, Allison Tibaldi, RJ Julia Booksellers, I'm, Allison Tibaldi Madison, Café Organizations: Hamptons, Service, Madison, Hammonasset, Hilton, RJ Julia Booksellers, RJ Julia, Madison Cinemas Locations: Madison, Connecticut, New England, Madison , Connecticut, Italy, New York City, Long, England, Europe, Guilford
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. La Dolce Vita Orient ExpressNew details have been teased about the hotly anticipated La Dolce Vita Orient Express train and the upcoming Orient Express hotels in Rome and Venice, the first for the relaunched brand. The brand’s first Orient Express hotel will be the Orient Express La Minerva in Rome, followed by Orient Express Palazzo Donà Giovannelli in Venice. That follows the international gang-bust in France and Italy last month over counterfeit French wine being sold for $16,000 per bottle. In Japan, the alcoholic drink doburoku was once illegal “moonshine,” but this once controversial drink is now making a comeback.
Persons: Heinz Beck, Nizza, Giovannelli, Fraudsters, doburoku, poitín, There’s Organizations: CNN, Vita Orient, Vita Orient Express, Orient Express, Montalcino, Orient, Carolina, Fuji, Delta Air Lines Locations: Antarctica, Rome, Venice, Italy, Da Nang, Hue, France, Japan, Ireland, Germany, Turkey, Antalya, Western, North Carolina, Hurricane, French
CNN —The Mary Rose was a royal favorite when it first set sail as the flagship of King Henry VIII’s fleet in 1512. After the Mary Rose came to rest at the bottom of a strait in the English Channel, a layer of silt cloaked the ship and the hundreds of crew who died on board. Now, researchers are studying the objects and bones from the wreck to better understand who the men were and how they lived. Ocean secretsThe wreckage of the Mary Rose is on display at The Mary Rose Museum in Portsmouth, England. The Mary Rose TrustScientists now see how the tasks of life on a ship shaped the bone chemistry of 12 crew members from the Mary Rose by analyzing their collarbones.
Persons: Mary Rose, King Henry VIII’s, , Luke Parry, Parry, Ne’Kiya Jackson, Calcea Johnson, Ashley Strickland, Katie Hunt, Jackie Wattles Organizations: CNN, Mary Rose Museum, Mary Rose Trust, paleobiology, University of Oxford, Caltech, Tombstone, NASA, CNN Space, Science Locations: French, Tudor England, Portsmouth, England, New York, United States, Jamestown , Virginia, Belgium, North America, Tanzania, Louisiana, Mexico, Valeriana
Election bets were approved legally just weeks ago, as the 2024 race headed into its home sprint. The ongoing legal wrangling could still lead to a shutdown of U.S. election betting markets, but not until after the 2024 vote. The CFTC permits only U.S. residents to use the newly opened election betting markets, meaning many bettors on the platforms are also potential voters. Nonetheless, Adam Cochran, founder of venture capital fund Cinneamhain Ventures, says he worries about how voters perceive election betting odds. Mansour acknowledged it’s a “fair concern” that the general public might mistakenly see betting odds as the size of a candidate’s lead.
Persons: Donald Trump, Kamala Harris, ” Robinhood, Rostin Behnam, Kalshi, John Aristotle Phillips, Phillips, , multibillionaire Trump, Elon Musk, , ” Harris, Polymarket, bettors, Trump, Harris, Musk, Tarek Mansour, ” Mansour, Adam Cochran, ” Cochran, Mansour, it’s, There’s Organizations: Interactive, Futures Trading Commission, Republican, Democratic, Overseas, Victoria University of Wellington, NBC, Trump, Street Journal, Cinneamhain Ventures Locations: U.S, New Zealand, America
Director Jacques Audiard’s genre-defying musical, “Emilia Pérez” — a stylized imagining of how a life of crime could be at least temporarily transformed by becoming one’s true self — may be the most ambitious yet. Zoe Saldaña, right, as Rita Moro Castro and Karla Sofía Gascón as Emilia Pérez in "Emilia Pérez." NetflixFar from offering Gascón a small part, Audiard, by his own admission, would have struggled to make “Emilia Pérez” at all without its central star. Karla Sofía Gascón, the titular star of Netflix's "Emilia Pérez," helped French auteur Jacques Audiard shape the film’s transgender storyline. But her journey as the star of “Emilia Pérez” is far from over — with award season right around the corner and, the actor said, her characters’ lingering presence.
Persons: Mutt, , Jacques Audiard’s, Emilia Pérez ”, Audiard, Karla Sofía Gascón, Emilia, ” Gascón, Zoe Saldaña, Rita Moro Castro, Emilia Pérez, Selena Gomez, Adriana Paz, — Audiard, Gascón, , ” Selena Gomez, “ I’m, Boris Razon’s, Rita, Saldana, she’s, Manitas, Gomez, they’re, Emilia —, Jacques Audiard, Marisa, Gasćon, ” Gasćon, “ She’s, “ It’s, who’s, Organizations: Kokomo City ”, NBC News, Netflix, Cannes, Spanish Locations: Spanish, Emilia, Mexico, French, Mexico City, Europe
His record label, Bad Boy Records, is one source of his wealth. Musicians including Janelle Monáe, French Montana, and Machine Gun Kelly were signed to Bad Boy. Diddy founded Bad Boy Records in 1993 and went on to sign major musicians such as The Notorious BIG, Mase, and Faith Evans. It's impossible to think of '90s and '00s rap without also thinking of Bad Boy, which released 13 No. Here are 16 of the biggest acts that have released albums through Bad Boy since its inception.
Persons: Sean, Diddy, Combs, Janelle Monáe, Kelly, , Sean Combs, Faith Evans, Mr Organizations: Bad Boy Records, Bad, Service, Business, Billboard, Bad Boy Locations: French Montana, New York
Their clash has already drawn more ad spending than any other Senate race in history, eclipsing the $412 million spent in Georgia’s 2020 race between Jon Ossoff and David Perdue. While Moreno clings to Trump, Brown tends to avoid talking too much about national political figures from either party. “Sherrod Brown, he’s taking ads in like he’s my best friend,” the former president said Sunday during a rally at Madison Square Garden in New York. He also acknowledged the threat of ticket-splitters — and the importance of Trump having coattails long enough to carry Moreno along with him. But then-Rep. Tim Ryan, a Democrat who represented much of the area for years, lost it to Vance in the Senate race by 3 points in 2022.
Persons: Ohio — Sen, Sherrod Brown, Bernie Moreno, Jon Ossoff, David Perdue, Brown, Moreno, Donald Trump, ” Brown, , it’s, , , ” Sen, Republican Bernie Moreno, Barack Obama, Bob Taft, Trump, “ Sherrod Brown, “ He’s, ” Moreno, MAGA, Donald Trump Jr, Sen, Lindsey Graham, Graham, “ Trump’s, ” Graham, Kamala Harris, “ I’m, Kamala, Joe Biden, ’ ” Brown, Obama, Brown’s, Rachel Petri, JD Vance, Tim Ryan, Vance, they’ve, ” Petri, Paul Adams, Chuck Schumer, Hunter, “ We’ve, ” Trump, Martin Luther King Jr, Shontel Brown, Chris Ronayne, Moreno “, Andre Washington, — Sherrod Brown, David Brock, He’s, ” Moreno —, Sherrod Organizations: Republicans, Trump, NBC News, Teamsters, Republican, Ohio Senate, Ohio Gov, Madison, Trump’s, Democrat, , Democratic, Senate, Trump Jr, Cleveland, Ohio Democratic Party, GOP, Fund, Cuyahoga County Democratic Locations: VERMILION, Ohio, Trump, Youngstown, New York, Erie, swingy Lorain County, Lorain, Lorain County, Cleveland, Delaware, Mahoning counties . Delaware, Columbus, Mahoning, Strongsville, Russia, Lake Erie, Cuyahoga County, I’m
The cheese, worth over $390,000, was taken from London cheese specialist Neal’s Yard Dairy on Oct. 21, the company said in an Instagram post. Three cheeses from three different suppliers were stolen: Hafod Welsh organic cheddar, Westcombe cheddar, and Pitchfork cheddar. Neal's Yard Dairy said that "despite the significant financial blow," they've paid each of their artisan cheesemakers in full for their products. Oliver said that as the world’s most consumed cheese type, a cheddar theft affects exports to 20 different countries. The whereabouts of the stolen cheese have yet to be determined.
Persons: they'd, they've, Tom Calver, Westcombe, Trethowan, Trethowan Brothers, Jamie Oliver, Oliver Organizations: Metropolitan Police, Neal’s, Pitchfork, Neal's, Police Locations: London, cheddar, gouda
Russia’s Swift March Forward in Ukraine’s EastTwo years of territorial changes in the Donbas Russia gained more territory in October than any month since July 2022 150 sq. miles Amount of territory Russia gained 100 50 0 Ukraine has made only marginal gains this year 50 Amount of territory Ukraine gained 100 Jan. April July Oct. Jan. April July Oct. 2023 2024 Amount of territory Ukraine gained Amount of territory Russia gained 100 50 0 50 100 150 sq. Amount of territory Ukraine gained Amount of territory Russia gained 100 50 0 50 100 150 sq. In August, Ukraine’s defensive lines buckled, and Russia rapidly advanced 10 miles toward Pokrovsk and closed in on Selydove from the west and north. In just the past week, Russia advanced roughly six miles north of Vuhledar — an unusually swift pace compared with previous gains.
Persons: Russia’s Swift, Jan, Vuhledar, Pasi, , Russia Vuhledar, Selydove Kurakhove, Marinka, Kurakhove, Pokrovsk, Paroinen, Vincent Tourret, Tourret, , Oleksandr Lytvynenko, Chasiv Yar, Russia “, Serhii Kuzan, Chasiv, ” Mr Organizations: Ukraine, New York Times, Institute for, American, The New York Times, Bird Group, Railways, Russia, French Foundation for Strategic Research, Russian, National Security and Defense Council, Ukraine’s Security, Cooperation Center, Territory, LUHANSK, Kramatorsk, Selydove Avdiivka, Sloviansk, Vuhledar, Ukraine’s Territorial Defense Locations: Ukraine’s East, Donbas Russia, Russia, Ukraine, Donbas, Selydove, Pokrovsk, Finland, RUSSIAN, Russia Selydove, Russia Vuhledar Russia, Russian, Luhansk, Donetsk, Ukraine Ukraine, Chasiv Yar DONETSK, Selydove Avdiivka Donetsk, Azov Ukraine, Sloviansk LUHANSK, Azov, Vuhledar, Kursk, Ukrainian
The Mary Rose was one of the largest warships of the Tudor navy during King Henry VIII’s reign until it sank on July 19, 1545, during a battle against the French. The Mary Rose was one of them, and the flagship became the king’s favorite. The hull of the Mary Rose, supported by a steel cradle attached to a lifting frame, was raised on October 11, 1982. The research team used Raman spectroscopy, a nondestructive method that preserves valuable samples, to study the bones, Shankland said. “Investigating the impact of this on the spine would further our understanding of bone chemistry changes with age, but also with stress from activity.”
Persons: Mary Rose —, Mary Rose, King Henry VIII’s, , Sheona, Henry VIII, Alex Hildred, ” Hildred, , Shankland, Adam Taylor, ” Shankland, Tudor, Richard Madgwick, Madgwick, ” Madgwick, Dr Organizations: CNN, Tudor, Solent, Mary Rose Museum, telltale, Lancaster Medical, Lancaster University, , Mary, University of Glasgow, Fox, Getty, Cardiff University Locations: Solent, Isle of Wight, Great Britain, Portsmouth, England, Brest, France, Scotland, Tudor England
Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California. "That should be expected, as Apple Intelligence features (the only reason to upgrade)have yet to be rolled out in a significant way." U.S. carriers, including AT&T, Verizon and T-Mobile, have also seemed unexcited about an Apple Intelligence upgrade cycle. But research firm Counterpoint Research told CNBC in October that iPhone sales, especially for the lower-priced devices, were strong in China. WATCH: Apple Intelligence rollout could be an inflection point, says Futurum Group CEO's Daniel Newman
Persons: Tim Cook, Apple doesn't, Morgan Stanley, Erik Woodring, Davidson, Gil Luria, We're, John Stankey, Malif Atik, Apple, Luca Maestri, Maestri, Kevan Parekh, CEO's Daniel Newman Organizations: Apple, Apple Intelligence, Verizon, Mobile, Huawei, Citi, Research, CNBC, Apple Watch, LSEG, Major League Soccer Locations: Cupertino , California, Spanish, U.S, China, Apple's
How Hermès is bucking the global luxury slowdown
  + stars: | 2024-10-31 | by ( Natalie Rice | ) www.cnbc.com   time to read: +2 min
French luxury company Hermès has spent nearly 200 years emphasizing quality, scarcity and desirability — a strategy that's helped it dominate the luxury sector, even over its much larger rivals. Analysts say the Birkin and the Kelly account for between 25% and 28% of Hermès' total revenue. For fiscal year 2023 Hermès reported the fourth-highest revenue total of the major luxury fashion brands, behind LVMH , Richemont and Kering . In its most recent quarter, Hermès posted double-digit revenue growth while competitors LVMH and Kering reported sharper-than-expected declines in sales. Globally, many luxury consumers have pulled back on spending, particularly aspirational buyers in 2023 and 2024.
Persons: Hermès, Birkin, Kelly handbags —, Jane Birkin, Princess Grace Kelly of Monaco, Kelly, Luca Solca Organizations: Bernstein Locations: LVMH
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