Hermès turnover grew 10 % | RetailDetail

Hermès turnover grew 10 %

Hermès turnover grew 10 %

French luxury brand Hermès has exceeded its third quarter forecast with a 10.4 % turnover growth, to 990.6 million euro. The company did warn for slightly lower operational margins however.

Chinese growth remains

Asian turnover (excluding Japan) for the scarves and hand bag manufacturer was up 10.2 %, lower than in its previous quarters, but Chinese demand for Hermès is still growing. Turnover also grew in other regions: North and South America grew 16.9 %, Japan 16.4 % and Europe 7.4 %. Its turnover on home territory, France, also grew 7.4 %.

 

The leather-wear branch experienced the largest growth, up 19.3 %. Perfume sales went up 11.8 %, while ready-to-wear and accessories grew 9.1 %. Watch sales dropped 14.4 % as a result of smaller Chinese supplies. The company still feels the backlash from stricter Chinese anti-corruption legislation.

Questions or comments? Please feel free to contact the editors


Carrefour Belgium launches personal shoppers with 90 minutes delivery

19/07/2018

In the intense struggle for the customers' favour, Carrefour Belgium has presented a new service - featuring personal shoppers, delivery within 90 minutes and an app that can be expanded into a market place.

JAB and Nestlé prey on Illy

18/07/2018

There is no end to the consolidations in the coffee branch: both JAB (Jacobs Douwe Egberts) and Nestlé have expressed interest in Italian coffee maker Illycaffè, but it is not sure if the family owners want to sell.

Cultured meat in stores by 2021?

18/07/2018

Commercialization of laboratory cultured meat is coming closer. Pioneer Mosa Meat has raised 7.5 million euros for the construction of a factory that will bring an affordable product to the market within three years.

Aldi commits to renewable energy

17/07/2018

Aldi Nord has published an ambitious international climate policy: the retailer wants to reduce greenhouse gas emissions by 40% by 2021 and reveals some compelling figures in its second sustainability report.

Discounters' major opportunities for growth in Western Europe

16/07/2018

Despite the multitude of stores in most European markets, discounters plan to open up to ten million square metres of store surface in five years' time. Even in so-called saturated markets they still see a lot of chances for growth, LZ Retailytics says.

Contamination bites huge chunks of Greenyard's value

16/07/2018

Vegetable producer Greenyard is under attack after a listeria contamination in its Hungarian factory. The company says to have taken all necessary measures, but the share price plummets.