Hermès Defies Luxury Downturn With Strong Sales Growth
- Company not seeing change in trends so far this quarter
- Aspirational clients curbing demand on goods like silk scarves
Hermès sales jumped in the second quarter as the Birkin bag maker weathered the luxury demand slowdown better than peers, thanks to its reliance on the wealthiest clients.
Revenue at constant exchange rates rose 13.3%, Hermès International SCA said Thursday, above analysts’ expectations. First-half recurring operating income amounted to €3.15 billion ($3.42 billion) slightly lower than estimates. All regions grew by double digits except for the area that includes China.