Hermès leans on leathergoods in third quarter - leatherbiz: Leading ne Leatherbiz

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Hermès leans on leathergoods in third quarter

03/11/2016
Luxury brand Hermès reported a 10% increase in sales during the third quarter of 2016, led by a strong showing from its leathergoods division after the decision to increase production of handbags.

Revenue for the three months to September 30 was $1.4 billion. For the first nine months of the year, total sales were $4.1 billion, a 7% increase year-on-year.

Sales from the brand’s leathergoods and saddlery division were up 16% in the quarter. Axel Dumas, Hermès CEO, attributed this growth, as well as the overall rise in sales, to the increase in production of its luxury handbags. He said that the company is targeting up to 10% growth in leathergoods production.


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