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Hermes defies gloom

Luxury goods group Hermes saw sales rise 12.1% to €398 million (£315m) for the second quarter, providing further evidence that the luxury sector is defying the retail downturn.

The Hermes group, which has seven UK stores, racked up strong sales in Europe, the Americas and Asia. Sales slowed in Japan, edging up by just 2% over the three month period.

According to reports, Hermes saw sales of leather goods and saddlery jump by 17.1% to €170.8m (£135.2m), driven by strong sales of luxury handbags.

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