22 April 2022

The French luxury group announced on April 15 that revenues at constant exchange rates came in at €2.8 billion (US$3.06 billion) in the three months to March, up 27% at constant exchange rates, beating consensus estimates, which had forecast 15% organic growth, reports ILM

 

 

Sales at Birkin bag maker Hermès beat estimates in the first quarter, lifted by strong appetite for its luxury accessories, particularly in the United States and Europe, as the sector steers through the turbulence created by the war in Ukraine and Covid lockdowns in China.

 

All divisions clocked double-digit growth, including the leather goods and saddlery activity, which includes its famed Birkin and Kelly handbags and accounts for nearly half of annual sales at Hermès, up 15.8%.


Other divisions grew at an even faster pace, with ready-to-wear and accessories division up 44% while sales of watches rose 62%.


Hermes flagged a strong start of the year in China until the beginning of March, when some stores were closed due to restrictions aimed at stemming the spread of the coronavirus, Executive Vice President for Finance Eric du Halgouet said.


Hermes is in close contact with its 60 employees in Russia, continuing to pay their salaries while providing them with training sessions and psychological support, the executive said. Some have relocated to countries nearby, reinforcing the group’s operations.


The group last month said it was suspending commercial operations in Russia, closing its three stores in Moscow and putting plans to open a new one in St Petersburg on hold. All exports to the country have been halted and Hermes is complying with rules banning the sales of products to oligarchs on sanctions lists, the executive added.

關於亞太區皮革展 ​

我們為皮革、物料及時裝業界創造面對面洽談的機會,爲客戶締造實質商機。我們雲集世界各地的商家,讓他們尋找新的合作伙伴,發掘潛在客戶或供應商,並掌握業界最新發展。   我們主辦多個專注時尚及生活潮流的商貿展覽會, 為這不斷變化的行業,提供最全面的買家及參展商服務,方便他們了解急速轉變的行業環境,並預測來季趨勢。

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