Hermès’ sales rise as Europeans splash out on luxury

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Purchases of hangbags, belts and silk scarves in the three months to March 31 were strong at the French luxury goods group, whose famous fans include Kim Kardashian, Victoria Beckham and Lady Gaga.

The firm, which opened the 7,244 square foot Bond Street shop during the period, also saw revenue growth in Japan and America.

In its Asia division, excluding Japan, sales climbed 8% despite a more challenging environment in Hong Kong following a crackdown on bribery by Chinese authorities.

 

Group revenue jumped 19% at current exchange rates to €1.1 billion (£860 million). Shares rose 2.72%.

However the company said it expects growth to cool slightly in 2015.

The company said: “Hermès will continue its long-term development strategy based on creativity, maintaining control over know-how and securing supply.”

Source Article from http://www.standard.co.uk/business/business-news/herms-sales-rise-as-europeans-splash-out-on-luxury-10213037.html

April 29, 2015 |
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