Free Subscription

  • Access 15 free news articles each month


Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

China crackdown fails to dent Hermes

French luxury brand Hermes has seen its sales in 2013 grow 7.8 per cent, demonstrating its resilience in the tough trading environment.

The maker of upmarket bags and printed silk scarves said it has weathered the gift giving crackdown in China, where its sales rose 19 per cent in 2013 at constant currencies.

“There has been a very rapid evolution of Chinese customers’ taste which means they increasingly look for discreet products and this has played in our favour,” said CEO Axel Dumas.

Dumas said the continuous high demand for shoes, silks and watches by Chinese men has improved its revenue performance there.

Its rival Prada of Italy saw sales grow nine per cent in 2013.

You have 7 free articles.