Economics
Hermes Shrugs Off Hong Kong With Fastest Growth in Years
- Birkin bagmaker reports third-quarter sales in Asia rose 20%
- Results show that luxury is overcoming Hong Kong protests
A model presents a creation by Hermes during the Spring-Summer 2019 Ready-to-Wear collection fashion show in Paris.
Photographer: Bertrand Guay/AFP via Getty Images
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Hermes International overcame the effect of Hong Kong demonstrations to post its fastest quarterly revenue growth in six years as shoppers snapped up the French luxury-goods maker’s silks and fashion.
The mainland Chinese consumers who are driving luxury sales continued to buy the French luxury-goods maker’s Birkin and Kelly handbags, even as a trade war with the U.S. dimmed forecasts for economic growth and the key Hong Kong shopping hub was roiled by weeks of anti-Beijing protests. Asia sales grew 20%.