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The global fashion business journal

Oct 29, 20206:25pm

Hermès sales rise 16% in third quarter boosted by Asia Pacific

The French luxury fashion company has ended the first nine months of the fiscal year with a revenue of 5 billion euros, boosted by its business in Asia Pacific.

Oct 24, 2019 — 5:19pm
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Hermès sales rise 16% in third quarter boosted by Asia Pacific

 

 

Hermès continues on the rise. The French luxury fashion company has ended the third quarter of the year (closed on September 30) with a growth of 16.1%, up to 5 billion euros. The company’s momentum is mainly due to the good evolution of its business in Asia Pacific. The company has shot 22% of its revenues in the region, up to 1.9 billion euros.

 

In the rest of the markets where it operates, Hermès has also grown, with increases of 9.4% in Europe and 15.9% in America. In France, its local market, the group has increased its revenue by 6.1% between January and September.

 

By product category, the ready-to-wear and accessories division has been the area that has evolved the best in the first nine months, up 20.5%. The watch division has also grown to double digits, 17.5% more, while leather goods and saddlery have increased their revenue by 15.7% in the period.

 

“Despite an uncertain international environment, Hermès is experiencing exceptional sales growth over the first nine months, reflecting our creative drive, excellent know-how and customers’ adhesion,” said Axel Dumas, CEO of Hermès, in a statement. 

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