The French fashion house Hermès does not seem to have suffered from the strict corona restrictions in China during last year’s last quarter.
Turnover rose almost a quarter to a record high of 11.6 billion euros, where experts assumed 17 percent more income.
Turnover of Hermès’ largest division, leather goods, grew by more than 15 percent, adjusted for exchange rates, to nearly 5 billion euros. However, 3.4 billion remained below the line, 38 percent more than a year earlier.
Hermès generated more revenue worldwide, with the most substantial increase (plus 32 percent) in the United States and Mexico. As a result, the fashion house opened new stores in that region, including an almost 1900 square meters store in New York.
But also in Asia, except for Japan, Hermès did good business. Turnover increased there by 22 percent. The company notes that sales in China also remained stable, even though shoppers had to stay home due to the strict corona measures. “Historically, we have come through the crises with resilience,” notes Hermès CEO Axel Dumas.
Despite global uncertainties, he speaks of 2022 as a “very strong” year.