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Sales soar at Hermes

French luxury brand Hermes expects to post a record operating margin for the year after sales soared 22.6% during the year.

Revenues rose to €3.484.bn (£2.994bn) for the year to the end of December 2012.

Sales at the group’s own stores rose 23% and during the year Hermes opened two new stores and either renovated or enlarged 12 others.

The company said that earnings will be reported on March 21 but added: “For the full year, given the excellent performance in the fourth quarter, the operating margin is expected to be slightly above the all-time high achieved in 2011.”

Sales in the fourth quarter rose 18.5%.

The sales rise for the year was driven by Asia excluding Japan, with revenues in that region growing by 25%. Growth in Europe was an “impressive” 15%.

All categories delivered a strong performance with the ready-to-wear and accessories division posting a 22% rise and silk and textiles posting a 16% increase.

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