French luxury goods company Hermès has posted 20% sales growth for the third quarter, driven by its own retail stores.

Sales for the first nine months amounted to EUR1.7m (US$2.4m).

On 23 October 2010, the LVMH group announced that it held 17.1% of Hermès International's share capital. No legal or statutory ownership threshold disclosures had been filed prior to this announcement, Hermès said.

Based on the strong growth achieved in the third quarter, Hermès said its sales growth target for the year could be around 15% at constant exchange rates.

Click here to view the company's third quarter results in full.