Hermès bags sales growth in strong week for luxury retailers
Hermès has joined the list of luxury goods firms cheering a rebound from Covid-19 disruption, with the Birkin bag maker recording a surge in sales.
The upmarket fashion company said revenue in the first half to June hit €4.2 billion (£3.6 billion).
At constant exchange rates that was 77% higher than a year earlier, and also above the same period in 2019.
The industry was hurt at the start of the pandemic as stores had to close for lockdowns and travel restrictions hit footfall.
But in the first half of 2021 Hermès pointed to a strong performance in greater China, improvements in the US, and recovery in Europe. Stores in England were able to reopen from the latest lockdown in April.
The updates comes in the same week that LVMH, Gucci owner Kering, and Prada, also revealed a jump in sales. A number of shoppers have built up savings during lockdowns.
Hermès, led by Axel Dumas, said: “In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.”
At constant exchange rates that was 77% higher than a year earlier, and also above the same period in 2019.
The industry was hurt at the start of the pandemic as stores had to close for lockdowns and travel restrictions hit footfall.
But in the first half of 2021 Hermès pointed to a strong performance in greater China, improvements in the US, and recovery in Europe. Stores in England were able to reopen from the latest lockdown in April.
The updates comes in the same week that LVMH, Gucci owner Kering, and Prada, also revealed a jump in sales. A number of shoppers have built up savings during lockdowns.
Hermès, led by Axel Dumas, said: “In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.”
