Hermès raises forecasts after another ‘fruitful’ qua - leatherbiz: Lea Leatherbiz

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Hermès raises forecasts after another ‘fruitful’ quarter

18/07/2013
Luxury brand Hermès saw revenues grow by 16% in the second quarter, boosted by leathergoods, even though sales were “constrained by production capacity”.

Sales reached $1.19 billion, with all regions experiencing growth, in particular Asia excluding Japan (up 17%) and the Americas (up 17%).

“Demand for Hermès items remains strong, impelled by great creativity. The expansion of the growth relays bore fruit, while the advancement of bag sales remains constrained by production capacity,” the company said in a statement.

Leatherwork and saddlery revenues were 10% higher than the year-ago period, boosted by the opening of factories last year in Isère and Charente Maritime and are expected to be further boosted by two new facilities planned for the Franche Comté region next year.

The company said its full-year growth could exceed the forecast 10%.




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