Is luxury overcoming Hong Kong crisis? We wonder about it right after reading data about Hermès quarterly performance, recently made public by the group. In fact, for the records, sales carried out by the French fashion house increased by 18.2% at current rates of exchange and by 15% at fixed rates of exchange. No wonder, then, in Paris headquarters they talked, while referring to the quarter ended on last 30 September, about “an amazing one”.
1.728 billion euros in the quarter
Hermès quarterly revenues reached 1.728 billion euros. Earnings coming from leather goods amount to nearly half of them. The brand’s sales increased by 15.1% at current rates of exchange and by 11.5% at fixed rates of exchange. The fashion house confirmed that sales boost in Hong Kong slowed down in the quarter from July to September: despite that, its trend proved still positive. Sales are booming in China, as well as in the Asia-Pacific market, as they went up by 24.8% (+21.8% at fixed rates of exchange). “Very good and rewarding business trends in China have been going on until October”, publicly announced Eric du Halgouet, Hermès chief financial officer, while emphasizing the importance of the online channel in the country.
5.012 billion euros in the first nine months of the year
Hermès also made public data about the first nine months of 2019. Overall revenues remarkably exceeded 5 billion euros (actually 5.012 billion euros). Incomes went up by 16.1% at current rates of exchange and by 13% at fixed rates of exchange. Axel Dumas, Hermes chief executive officer, commented: “Despite the international scenario uncertainty, Hermès sales enjoyed an amazing boost, which mirrors the company’s creative energy, top-notch know-how and customers’ support. Hermès proudly announce they keep creating new jobs in France, therefore reinforcing their role in the area”.
The driving power of classic models
Speaking about leather goods and saddles manufacturing (+15.7% at current rates of exchange and +12.1% at fixed rates of exchange, in the first nine months of the year), the fashion house claims that “the power of classic models” has been driving such business growth. The latest models, such as Mosaïque bags, 24/24 and Twins, turned out to be a great success as well. “The group highlighted, once again, their challenging goal: to augment sales at current and fixed rates of exchange”, as they made clear while talking about the fashion house outlooks. “To celebrate Hermès dream urges the company to act with bravery, while looking farther ahead and opening the boundaries of imagination, which inspires creativity”.