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Hermes fourth quarter sales grow by 25%

French luxury goods group Hermes saw sales rise by 25% in its fourth quarter.

For the three months ending December 31, the group posted sales of €737m (£627m) compared to €587.3m (£500m) in the same period in 2009. The company said sales growth was “robust” in all regions, with increases of 25% in the Americas, 16% in Asia and 16% in Europe.

For 2010 sales were up 25.4% totalling €2.4bn (£2bn) for the year compared to €1.9bn (£1.6bn) in 2009. Sales for the group’s own stores increased by 31% at current exchange rates and by 24% at constant exchange rates. Wholesale revenues for the year also grew by 3%.

Hermès said its ready-to-wear and fashion accessories division benefited from the success of the new ready-to-wear collections and the development of fashion accessories with a sales rise of 18% for the year.

The leather goods division also performed well with a 21% rise, which was fuelled by persistently high demand for small leather goods and leather bags. Hermes silks and textiles sales also grew by 19.

In a statement the brand said: “The group exceeded its sales growth target for the year owing to extremely strong business momentum for the company-owned stores, particularly during the Christmas season.”

Hermes said it would continue to invest in expanding its distribution network and plans to open 10 stores in 2011.

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