FRANCE: Hermès sales up 22% in “remarkable” Q1
By Richard Woodard | 3 May 2012
- Q1 revenues up 21.9% to EUR776.9m
- Sales in owned stores rise 17%
- Wholesale revenues increase 19.7%
Fashion, silk and textiles company Hermès International recorded a 22% increase in first quarter sales, driven by double-digit rises in retail and wholesale revenues.
The French company said sales had continued to expand “briskly” in its owned stores and wholesale channels, adding: “At constant exchange rates, revenue increased by 17.5% – a remarkable performance on the back of very high growth in the same year-ago period.”
All regions contributed to growth, which was underpinned by stores opened or renovated during the second half of 2011.
Sales rose 22% in non-Japan Asia, thanks to growth in China, Macau and Hong Kong, while France recorded a 14% revenue rise and sales surged by 27% in the rest of Europe.
America rose 11% on strong comparisons, and Japan increased 8% a year on from the earthquake which struck the country.
Silk and textiles revenues were up 14%, while ready-to-wear and fashion accessories increased 20%, thanks to the success of fashion accessories and the latest ready-to-wear collections.