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Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector. French luxury group Hermès shrugged off the rise in Covid-19 cases in China and increased sales by a quarter last year, with little disruption to shopper demand for products .
Hermès does not show any sign of slowing going into 2023, as fourth quarter sales were up 23 percent to 3 billion euros, much of it on the strength of sales in China while other . Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector. French luxury group Hermès shrugged off the rise in Covid-19 cases in China and increased sales by a quarter last year, with little disruption to shopper demand for products from the maker of the. Hermès does not show any sign of slowing going into 2023, as fourth quarter sales were up 23 percent to 3 billion euros, much of it on the strength of sales in China while other brands, notably.
hermes sales in china
Hermès defied China's luxury slump, with uptick in sales in Asia. Its chairman said Chinese shoppers are buying at home and in Europe. Hermès saw softer traffic in Greater China in March after the Chinese New Year with a “slight erosion” of customers buying more affordable products such as its silk scarves. But that was compensated by shoppers splurging on its more expensive leather, ready-to-wear and jewelry goods, Chief Financial Officer Eric du Halgouet told reporters . Finance chief Eric du Halgouët shrugged off concerns about a slowdown in China, the industry's biggest market, saying store traffic, the percentage of people leaving its shops with a purchase and.
Strong demand for its exclusive handbags drove revenues at French luxury group Hermès up by 17 per cent in the first three months of 2024, defying a wider slowdown in luxury sales. Hermès has outperformed its competitors. LVMH posted a 10 per cent growth for its fashion and leather goods division in the fourth quarter, while Kering sales in the same period fell by 7 per cent (with Gucci down 14 per cent, citing a sharp drop in China). Hermès sales rose 19.5 per cent to €2.71 billion in the second quarter, defying a broader industry slowdown in Asia Pacific from China lockdowns to post steady growth in the region. The shares rose 6 per cent in midday trading. French luxury house Hermès benefited from strong growth in China at the end of last year as shoppers snapped up its colourful silk scarves and leather handbags in their home market as Covid-19.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector. French luxury group Hermès shrugged off the rise in Covid-19 cases in China and increased sales by a quarter last year, with little disruption to shopper demand for products from the maker of the. Hermès does not show any sign of slowing going into 2023, as fourth quarter sales were up 23 percent to 3 billion euros, much of it on the strength of sales in China while other brands, notably.
Hermès defied China's luxury slump, with uptick in sales in Asia. Its chairman said Chinese shoppers are buying at home and in Europe. Hermès saw softer traffic in Greater China in March after the Chinese New Year with a “slight erosion” of customers buying more affordable products such as its silk scarves. But that was compensated by shoppers splurging on its more expensive leather, ready-to-wear and jewelry goods, Chief Financial Officer Eric du Halgouet told reporters .
Finance chief Eric du Halgouët shrugged off concerns about a slowdown in China, the industry's biggest market, saying store traffic, the percentage of people leaving its shops with a purchase and.
Strong demand for its exclusive handbags drove revenues at French luxury group Hermès up by 17 per cent in the first three months of 2024, defying a wider slowdown in luxury sales. Hermès has outperformed its competitors. LVMH posted a 10 per cent growth for its fashion and leather goods division in the fourth quarter, while Kering sales in the same period fell by 7 per cent (with Gucci down 14 per cent, citing a sharp drop in China). Hermès sales rose 19.5 per cent to €2.71 billion in the second quarter, defying a broader industry slowdown in Asia Pacific from China lockdowns to post steady growth in the region. The shares rose 6 per cent in midday trading.
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