Strong handbag sales drive Hermès growth - leatherbiz: Leading news si Leatherbiz

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Strong handbag sales drive Hermès growth

22/07/2016
Strong handbag sales drive Hermès growth
Luxury leathergoods group Hermès reported better-than-expected sales in the second quarter of 2016, led by demand for Birkin and Kelly handbags. Sales increased 8.1% on a currency-neutral basis to €1.25 billion ($1.4 billion).

Hermès CEO Axel Dumas said the quarterly results “prove the desirability” of the brand’s products.
Leathergoods performed particularly well in the quarter, with sales up 17%. Hermès put this down to strong demand for handbags and the “sustained pace of production and the increase in capacities” of its sites in Charente, Isère and Franche-Comté. 

Hermès has stepped up its production of leathergoods in recent months, including handbags, for which there are long waiting lists. This comes at a time when many luxury brands are reducing their output of leathergoods.

Related stories:

Another Birkin bag breaks auction record 01/06/2017
Hermès does away with sales forecasts 14/09/2016
Online sales threaten luxury goods stores 19/08/2016
Hermes relocates Latin American base 08/06/2016
World’s most expensive handbag sold 31/05/2016
New Hermes leathergoods factory helps drive revenue rise in third quarter 13/11/2015
‘Remarkable’ leather growth for Hermes 02/09/2015
French firm invests in calf skin operation 13/05/2015

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