Hermes Sees Luxury Demand Recover From Pandemic Freeze
- Online store is making more revenue than Hermes’s top flagship
- Performance reflects strength of the brand: Citigroup
Hermes International returned to growth as consumers regained an appetite for products like Birkin bags after lockdowns earlier this year.
Revenue rose 6.9% on an adjusted basis to 1.8 billion euros ($2.1 billion) in the third quarter, beating estimates by 100 million euros. Hermes shares rose as much as 1.4% in Paris and traded near a record, having gained more than 20% this year.