04 Nov Luxury Rebounds As Hermès Sales Surge to $1.4 Billion
Luxury is bouncing back, with an acceleration in third-quarter sales at Hermes International the latest signal of an improving sector.
Revenues at the French maker of Birkin bags gained 9.9 percent in the three months ended Sept. 30 to 1.26 billion euros, or $1.4 billion at average exchange rates for the period in question. At constant exchange rates, the improvement stood at 8.8 percent.
This compared with organic growth of 8.1 percent in the second quarter and 6.2 percent in the first three months of the year. The Hermès sales echo positive figures from luxury giants Kering and LVMH Moët Hennessy Louis Vuitton, which also trumpeted faster growth in the third quarter.