Retail in Asia

In Trends

Hermès sales up 13% in third-quarter, Asia revenues soar

Hermes

French heritage fashion house Hermès reported a third-quarter sales surge, as consolidated revenues surpassed the 5 billion euros mark.

SEE ALSO : Hermès Enchaînments Libres, High Jewellery Collection

Paris-based Hermès reported sales of 5.012 billion euros for the three months ending September 30, up 13% in constant exchange rates. The luxury company said it experienced “sustained momentum in all geographic areas,” with Asia (excluding Japan) surging 19%, on mainland China revenues, despite headwinds in Hong Kong.

During the quarter, Hermès reopened its Siam Paragon store in Bangkok. And in China, Hermès said it opened its 26th store in Xiamen in July, homing in on its new localised site for China, hermes.cn.

Hermès’ Japan sales lifted 12%, following retail extension and renovation in its Iwataya store in Fukuoka and the Nihombashi store in Tokyo.

The Americas saw a 10% increase, mostly in the United States. Finally, Europe excluding France lifted 9%, while domestic sales in France gained 6%, with in particular robust growth in the UK, in Italy and in the Parisian stores.

“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, Executive Chairman of Hermès.

By category, Leather Goods and Saddlery lifted 12%; Ready-to-Wear and Accessories division increased 17%; Silk and Textiles rose 8%; Perfume grew 3%, and Watches lifted 14%, contined Hermès.

SEE ALSO : Hermès strong sales momentum over the first half of 2019

Hermès’ business lines increased 22%, which includes Art of Living, Hermès Table Arts, and Jewellery, with the latter being main driver.