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


Small Belgian brewery conquers Brazil thanks to playing cards

13/09/2017

Het Nest, a small brewery from Turnhout, will get its beers brewed in Brazil as well. It has struck a deal with Cervejaria Premium Paulista, which will brew and distribute the beers locally.

Price cuts drive 25 % more customers to Whole Foods

12/09/2017

Supermarket chain Whole Foods welcomed an additional 25 % of customers in the first few days following Amazon’s price cuts.

Ter Beke enters British food service industry

12/09/2017

Belgian food group Ter Beke has acquired a 90 % stake in British competitor KK Fine Foods for an undisclosed fee. The current shareholders hold onto the other 10 %.

Godiva wants to conquer the world through supermarkets

12/09/2017

Belgian praline brand Godiva will soon sell its chocolate in supermarkets all over the world after signing a deal with chains like Albert Heijn and Sainsbury’s. Previously, it sold nearly all its chocolate through its own store network.

Insight: Xavier Piesvaux' seven labours at Delhaize

10/09/2017

Can one French and several Dutch managers do what the Belgian management failed to do these past few years at Delhaize Belgium? Its new CEO will face plenty of challenges: we count at least seven.

Nestlé USA acquires food manufacturer Sweet Earth

08/09/2017

Nestlé USA has acquired American Sweet Earth for an undisclosed fee. The company mainly manufactures meat replacements, a rapidly-growing market, but also several frozen meals.

Back to top