×
2 559
Fashion Jobs
URBN
Free People Assistant Visual Manager - Kings Road, London
Permanent · LONDON
URBN
Anthroplogie Visual Manager - Regent st, London
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Jollys, Bath - 7.5 Hours - Part Time, Permanent
Permanent · Bath
ESTEE LAUDER
la Mer - Business Manager - Selfridges, Exchange, Manchester - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Manchester
ESTEE LAUDER
Clinique - Consultant - John Lewis, Cribbs Causeway - 13 Hours - Part Time, Permanent
Permanent · Patchway
ESTEE LAUDER
Tom Ford, Frederic Malle, by Kilian - Business Manager - Harvey Nichols, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
AESOP
Retail Consultant | Part Time, Permanent | New Aesop Battersea Power Station, London
Permanent · London
AESOP
Retail Consultant | Full-Time, Permanent | New Aesop Battersea Power Station, London
Permanent · London
BERSHKA
General Manager - Bershka Blanchardstown
Permanent ·
STRADIVARIUS
General Manager - Stradivarius Jervis
Permanent ·
STRADIVARIUS
Stradivarius General Manager Stratford
Permanent · LONDON
HEAD OFFICE
Commercial Buying Product Expert
Permanent · BRACKNELL
DEBENHAMS
CRM Assistant
Permanent · LONDON
HEAD OFFICE
Information Security Analyst (Cloud), Secure by Design
Permanent · BRACKNELL
AUTUMNPAPER LIMITED
Alexander Mcqueen Senior Performance Marketing Manager - 12 Month Ftc
Permanent · LONDON
DR. MARTENS
Retail Regional Manager - UK
Permanent · LONDON
BOOHOO GROUP
Warehouse Operative
Permanent · BURNLEY
VF INTERNATIONAL
Account Coordinator - Italian Speaking - Vans
Permanent · NOTTINGHAM
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Inventory Team Leader
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
By
Reuters
Published
May 3, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hermes Q1 sales rise as Asia strong

By
Reuters
Published
May 3, 2012

PARIS - French luxury goods company Hermes said first-quarter sales rose 17.6 percent at constant exchange rates to 776.9 million euros ($1.02 billion) on strong growth in Asia and in Europe outside of France.

Hermès
Photo: AFP/Archives, Miguel Medina

The 175-year-old company, which is 72 percent owned by Hermes family shareholders, said its leather goods and saddlery division, which accounted for slightly less than half of sales in the quarter, posted 13.5 percent growth.

But sales were robust in a series of smaller divisions, helping prop up the overall figures. Jewellery and "Art of Living" sales grew 46 percent, while watches and tableware had a strong quarter, as did the ready-to-wear fashion division.

The company gave no specific forecast on Thursday but reiterated that it would keep control of its distribution network and either open or renovate some fifteen branches in the coming year.

Hermes registered strong growth in Asia-Pacific, excluding Japan, with sales rising 22.4 percent. Stripping out the weak French market, sales rose 26.6 percent in Europe. This helped offset weaker growth in Japan and the United States.

European luxury goods companies have benefited from the influx of wealthy Chinese, Middle Eastern and South American consumers into their stores. Hermes has done especially well with repeated quarters of double-digit percentage organic growth.

The company, which downplays its commercial intent and talks about the art behind its products, has been careful to limit store openings and maintain an aura of exclusivity. For ordinary customers, there can be a five-year wait for the Birkin bag.

This success has attracted the attention of larger luxury goods company LVMH, which also reported strong sales growth for the quarter. Against the wishes of Hermes' management, LVMH has taken a 22 percent stake in it.

Takeover rumors and consistently strong performance have turned Hermes into one of the most expensive stocks in Europe. It currently trades at 47 times earnings, while European averages hover around a ratio of 11.

© Thomson Reuters 2022 All rights reserved.