FRANCE: Hermes FY sales exceed expectations
- Full year revenue increased 22.6% to EUR3.4bn
- Asia sales, excluding Japan, rose 25% to EUR1.1bn
- Fourth quarter revenue rose 22.5% to EUR1.04bn
French luxury brand Hermes said 2012 sales exceeded its expectations, driven by "persistently robust momentum in the fourth quarter".
The company today (12 February) said that sales grew 22.6% to EUR3.4bn, rising 16.4% at constant exchange rates.
Sales were driven by non-Japan Asia, which recorded a 25% increase over the year to EUR1.1bn. Japan recorded 7% growth to EUR545m.
In Europe, excluding France, sales increased 18.2% to EUR661.8m, with a "positive contribution from nearly all countries", while the Americas recorded 14% sales growth to EUR184.6m. In France, sales increased 12.2% to EUR555.5m.
The group's ready-to-wear and accessories business saw sales rise 22% to EUR745.6m, while silk and textile sales rose 16% to EUR424.6m.
During the fourth quarter, sales increased 22.5% to EUR1.04bn.
The company said that in 2013 it plans to continue its strategy based on "creativity, expanding its distribution network, strengthening its production capacity and securing its sources of supply".
French luxury group Hermes has said it expects full-year sales to "slightly exceed" its growth target of 10%, after second-quarter sales were boosted by higher demand in Asia and the Americas....
Moët Hennessy Louis Vuitton LVMH has been fined EUR8m by France's stock market regulator for failing to disclose its stake building in luxury rival Hermes before 2010. ...
Luxury brand Hermes International has promoted chief operating officer Axel Dumas to the position of co-chief executive officer....
LVMH faces a fine of up to EUR10m (US$13m) from France's financial markets regulator for stealthily increasing its shareholding in luxury fashion goods rival Hermès over several years....
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