Hermes beats the luxury blues; sales surge 15 per cent 

Luxury fashion company Hermes has posted a 15 per cent increase in sales for the first half, with double-digit growth recorded across all markets.

The company’s consolidated revenue for the January-June period reached €7.5 billion (US$8.1 billion). Japan led the growth with a 22 per cent increase in sales, while Asia (excluding Japan) saw a 10 per cent improvement.

In the Americas, sales rose 13 per cent. France recorded a 15 per cent increase, while sales in Europe (excluding France) were up 18 per cent.

In a more challenging context, all the regions continued to show remarkable momentum, with the exception of Asia due to an inflection in traffic in Greater China, the company assessed.

On the bottom line, recurring operating income increased by 7 per cent to €3.1 billion, and consolidated net profit edged up to €2.4 billion from €2.2 billion last year.

“The solid first-half results, in a more complex economic and geopolitical context, reflect the strength of Hermes’ model,” commented executive chairman Axel Dumas.

The company is expecting revenue growth in the medium-term despite the current environment.

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