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.
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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