01-September-2024
Corporate News
 
Birkin Handbag Maker Hermes Outshines Rivals With Big Sales Jump
26-Jul-2024

Birkin-bag maker Hermes reported a 13% rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back. The French group's results stand out after a string of disappointing earnings updates from rivals - including Kering and LVMH - which have raised investor concern about uncertain prospects for the sector in the coming months. Hermes' famously classic designs and tight management of production and stock have helped reinforce the label's aura of exclusivity and made the company one of the most consistent performers in the industry. CEO Axel Dumas told reporters the company had seen "no big interruption in trends".

News Source:- https://money.usnews.com/investing/news/articles/2024-07-25/hermes-2q-sales-rise-13-on-continued-appetite-for-high-end-luxury