China fuels Hermes sales bounce
Hermes sales soared 13 per cent last quarter after an especially strong performance across Asia.
The French high-fashion luxury-goods manufacturer achieved consolidated revenue for the first quarter of €1.610 billion (US$1.796 billion). While all regions recorded sustained growth during the period, Chinese sales drove double-digit growth throughout Asia excluding Japan.
According to the firm, the group benefited from store extensions completed last year, in particular on the Shanghai IFC as well as Singapore Marina Bay Sands and its new store in Phuket Floresta, Thailand, which opened last month.
“Driven by the success of its collections among all its customers,” said the group’s executive chairman Axel Dumas, “Hermes achieved an acceleration of its sales over the first quarter, which shows the continuation of a dynamic trend, particularly in China.”
Hermes launched a new digital platform in China last October that is being rolled out across Asia.