Luxury fashion brand Hermes prospers on Asia
Jul 23, 2018
Luxury fashion brand Hermes’ latest figures show Chinese sales are still driving the business.
The company has reported strong sales growth for the first half of this year with all business lines and all geographical areas all ahead of last year, and especially positive momentum in greater China and the whole Asian region. The group benefited from the opening of its Landmark Prince’s store in Hong Kong in January, and a Changsha store which opened in May.
According to the report, figures for Asian sales (excluding Japan) showed a 15 per cent growth as opposed to an average growth across all sectors of 11 per cent.
The group’s consolidated revenue amounted to €2.853 billion (US$3.347 billion) in the first half of 2018.
Hermes’ final half-year results, which will be published on September 12, will include a net capital gain for the Asian region of €50 million (US$58.65 million) resulting from the sale of the former Hong Kong flagship store.
Source: Inside Retail Asia.