French luxury group Hermès saw its turnover grow 8 % in the first quarter, when considering constant exchange rates. Including exchange rate effects, turnover grew nearly 20 %.
Growth for most product groups
Especially its Japanese branch grew, up 15 %, while Asian turnover in general went up 8 %. American and European turnover also grew, respectively + 8 % and + 5 %.
The Leather Goods & Saddlery division was the best performing branch with a 12 % turnover increase, while Ready-to-wear & Accessories also grew double digits (+ 10 %). Perfumes had a minimal growth, only 1 %, thanks to the launch of 3 new perfumes. The watch market did not help Hermès' turnover that much, as it dropped 3 %. The remaining product groups within Hermès grew 8 %, mostly thanks to additional jewelry sales.