Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58 million euros ($10 million) at a Sotheby's auction in Paris on Thursday, smashing previous price records for a handbag. The modern design classic, owned by a Paris-based handbag collector, sparked...

Paris, France -- French group Hermes overtook LVMH as the world's most valuable luxury company on Tuesday after shares in the Louis Vuitton maker tumbled following weaker-than-expected quarterly sales. The market capitalization of Hermes reached 248.6 billion euros ($280.5 billion) at the close of trading in Paris, topping LVMH's 244.4...

The luxury giant posted a profit of US$4.6bn in 2023.

The performance was driven by strong sales, especially in Asia.

Fashion house posted huge earnings despite inflation.

Since Russia's invasion 10 days ago, the economic and humanitarian toll of the war has spiraled, sending more than one million people fleeing Ukraine. Officials have reported hundreds of civilians killed.

The cards would continue to work on Russian territory because all payments in Russia are made through a national system and do not depend on foreign systems.

Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country.

Israeli weapons-maker Elbit Systems launched a new venture in the United Arab Emirates on Sunday, an announcement that comes ahead of visits to Dubai by senior Israeli military officials. The manufacturer of the Hermes armed drone and cutting-edge surveillance technology, among other products, hailed the announcement as a product of...