French luxury brand Hermès has had an excellent third quarter, with sales up 16 %. As especially its Japanese sales soared, the group significantly outperformed its luxury rival LVMH.
Leather goods brand Hermès has had an excellent quarter everywhere in the world, with sales up in markets like Japan (+ 25 %), France (+ 22 %), Asia except Japan (+ 21 %), the United States and Europe except France (+ 20 %) as both shopping-minded tourists and loyal, local consumers returned to its stores.
Overall, quarterly sales went up 16 % to 3.4 billion euros. In the first three quarters of the year, sales went up 22 % to over 10 billion euros. Hermès is outpacing LVMH, as Bernard Arnault’s group ‘only’ announced a 9 % growth in sales a fortnight ago.
CEO Axel Dumas did not disclose profit figures, but was proud of his company’s “solid performance” in the third quarter. Hermès is strengthening its investments to increase growth, he said in a press release.