Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Hermès posts strong first quarter

French luxury goods group Hermès saw its European sales rise 15.2% to €186m (£158.3m) in the three months to March 31 following a strong performance in its retail stores.

Hermès reported global sales for the period up 18.5% - or 20.2% at constant currency exchange rates - to €507.7m (£432.1m). Retail sales rose 26% at constant currency rates, while wholesale sales grew at a slower rate of 4% on a constant currency basis during the quarter.

Hermès reported sales increases across all geographical regions and all sectors of the business.

The ready-to wear and fashion accessories division was a strong performer, with sales up 19% at constant currency, driven by a growth in popularity of accessories over the period.

Sales across the leather goods and saddlery division shot up 23% following strong sales of leather bags, while silk and textiles sales rose 17% with new women’s silk collections particularly well received. Watches were the standout performer, with sales up 39%.

Following a strong first quarter Hermès is confident about the full year and will continue to expand by sourcing additional wholesale partners. It will also open or renovate 20 stores this year.

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.