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Hermes (RMS) Sales Climb as Birkin Bag Maker Shows Resilience - Bloomberg

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Oct 24, 2024

Hermes (RMS) Sales Climb as Birkin Bag Maker Shows Resilience - Bloomberg

Hermes sales rose as the Birkin bag maker met resilient demand for its pricey handbags, bucking the broader luxury market slump that’s dragged down peers like Gucci-owner Kering SA. Sales increased

Hermes sales rose as the Birkin bag maker met resilient demand for its pricey handbags, bucking the broader luxury market slump that’s dragged down peers like Gucci-owner Kering SA.

Sales increased 11.3% at constant exchange rates in the third quarter, Hermes International SCA said in a statementBloomberg Terminal Thursday, just ahead of analysts’ estimatesBloomberg Terminal. Kering, meantime, warned that annual profit is likely to fall to the lowest level since 2016 as flagging Chinese demand hampers a Gucci turnaround.