German premium brand ESCADA inaugurated last week its mono-brand store in the Romanian ...
read more
Prada opened last week two stand alone stores, marking the official entry on the Moroccan ...
read more
French luxury group PPR, parent company of Gucci, Bottega Veneta, Boucheron has teamed up ...
read more
French luxury maison Chanel announced the opening of its 6th store in Australia, in the ...
read more
Italian luxury group TOD'S which includes the Tod's, Hogan, Fay and Roger Vivier brands, ...
read more
The biggest rally in three years for luxury-goods makers in Europe is fizzling on concern ...
read more
HERMES confirm recovery, yet warn of 2 weak years ahead
News 09 June 2009
Hermes International CEO announced improved sales results for April and May this year and show confidence of slight increases in 2009. To overcome crisis effects, HERMES have cut by EUR 20 million the investments budget for 2009. Patrick Thomas also warned that, overall, luxury markets will remain weak for the next 2 years. This is one of the reasons for Hermes to concentrate on 2 directions: increase investments in its own crocodile farms in Australia and a difersification of its non-leather ranges which account for 60% of the total revenues.
In his statements, Thomas gave a new dimension to the definition of luxury Luxury is when desire overcomes reason
In his statements, Thomas gave a new dimension to the definition of luxury Luxury is when desire overcomes reason