Research archive for HESAY

Hermes reported a 17% increase in first-quarter sales last week, maintaining its rapid growth momentum from the previous quarter, particularly in China, and highlighting the strong demand for high-end luxury goods.

Hermès had another année exceptionnelle in 2023 with total revenue reaching EUR13.4 billion, up 21% compared to 2022. This can be attributed to its affluent customer base, whose spending habits are largely unaffected by economic uncertainties.

French luxury goods company, Hermes International, known for its iconic Birkin and Kelly handbags, has surpassed a market value of EUR200 billion ($218 billion), becoming more valuable than Swiss drugmaker Novartis AG.

Luxury-goods giant Hermes is crushing it, despite Covid wreaking havoc on shopping in China. The French company reported a 23% increase in sales in the fourth quarter, exceeding analyst predictions of a 17% growth rate. The leather goods and saddlery division, which includes the Birkin bag, experienced a 25% increase in sales.

Hong Kong tycoon Joseph Lau is living life in the fast lane! The billionaire just sold a collection of mostly Hermes bags at Sotheby's, marking the largest single-owner handbag sale in Asia's auction market.