Asia leads sold Hermes sales growth
Hermes sales surged 11 per cent in the quarter to September, with all geographical regions performing well.
Asia – excluding Japan – led the way, with sales up 14 per cent. The company reported a “significant increase” in Mainland China with new stores in Xi’an (which opened in September) and Changsha (in May) along with the Landmark Prince’s store in Hong Kong in January helping underpin growth.
A new commercial website hermes.cn, launched on October 17 and a massive duplex flagship opens tomorrow at Bangkok’s new IconSiam development. In Japan, sales rose 7 per cent.
Group-wide revenue reached €4.316 billion at the end of September, with sales through company-owned stores up 11 per cent as well, confirming the trend evident during the first half of the year.
“Hermes realised a very strong growth over the first nine months of the year, in all regions,” said executive chairman Axel Dumas. “We keep our optimism for the future, but we are also thankful for the past.”
By product category, Hermes’ ready-to-wear division achieved growth of 15 per cent, aided by the successful launch of the women’s Spring-Summer 2019 collection, presented at the Hippodrome Paris Longchamp. Demand was also high for fashion accessories and shoes.
Growth in leather goods and saddlery reached 9 per cent, while the silk and textiles business grew by 4 per cent. Perfume sales rose by 9 per cent, watches by 8 per cent and other business lines, encompassing jewellery, Art of Living and Hermes Table Arts, by 23 per cent.