Asia Powers Hermès to a 15% Gain in Q3 Revenues

PARIS– Shrugging off geopolitical turbulence, including protests in Hong Kong, Hermès International saw Asian sales eclipse other regions in the third quarter. Revenues in the region, excluding Japan, gained 24.8 percent, led by strength in Mainland China, where Hermès recently opened its 26th store, in Xiamen, while developing its online business with a Chinese platform. By comparison, revenues rose 24.6 percent in Japan, 15.3 percent in the Americas, 10.6 percent in Europe excluding France, and 10.4 percent in France. Overall, revenues accelerated 18.2 percent at current exchange rates and 15 percent at constant rates in the three months ended Sept. 30 to reach 1.73 billion euros. Global revenues totaled 5.01 billion euros in the first nine months of the year, up 16.1 percent at current exchange and 13 percent at constant rates. In the third quarter, sales of ready-to-wear and accessories rose 24.5 percent, growing faster than silk and textiles at 20.1 percent, watches at 17.4 percent, leather goods and saddlery at 15.1 percent, and perfumes at 2.5 percent.

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