New leathergoods factories boost Hermes in first hal - leatherbiz: Lea Leatherbiz

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New leathergoods factories boost Hermes in first half

01/09/2014
Leathergoods brand Hermes has reported an 8% rise in revenues for the first half of the year to €1.9 billion (+12% at constant exchange rates).

Turnover increased in all regions: Europe (+7%) generated a good performance in a particularly difficult economic context. Japan (+11%) is continuing to improve after an exceptional first quarter, when it benefited from early purchases linked to increased prices (in the second quarter) and higher VAT. Sales in the US rose 13%, while Asia excluding Japan grew 17%.

The 13% rise in its leathergoods and saddlery division was enabled by the expansion of production sites in Isère and Charente. Two production units in Franche-Comté are under construction.

The group is forecasting revenue growth at constant rates of around 10% for the remainder of the year.

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