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Retail trade Luxury group Hermes exceeds expectations

SDA

14.2.2025 - 09:16

The expensive bags and other luxury products from French group Hermes are still in demand. The group recently posted a surprisingly strong increase in sales in the Christmas quarter.
The expensive bags and other luxury products from French group Hermes are still in demand. The group recently posted a surprisingly strong increase in sales in the Christmas quarter.
Keystone

The French luxury goods group Hermes has bucked the industry trend with a surprisingly large leap in sales. The manufacturer of Birkin and Kelly bags increased its revenue in the fourth quarter by almost 18 percent to 4 billion euros after adjusting for currency effects.

Keystone-SDA

14.02.2025, 09:16

14.02.2025, 09:17

The company achieved unexpectedly high sales, particularly in the Asia and Pacific region excluding Japan, as was reported on Friday. The region accounts for almost half of Group sales.

In 2024 as a whole, Hermes sold 15.2 billion euros Group-wide, 15 percent more than in the previous year after adjusting for currency effects. This puts Hermes well ahead of the competition.

LVMH (Louis Vuitton Moët Hennessy) and the Gucci Group Kering recently struggled with weak demand for their products. The bottom line for Hermes shareholders last year was a profit of 4.6 billion euros, around seven percent more than in 2023.

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