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Hermès expect 10 percent growth in 2012

Speaking to Swiss daily newspaper Le Temps, Patrick Thomas, CEO of Hermès said: "For 2012 we can bank on, being cautious, growth of 10 percent, as long as there is no major recession in the world,"

Last month, Hermes raised its full-year sales forecast to between 15 and 16 percent, reflecting strong demand in Asia, Europe and America, up from a previous forecast of 12 to 14 percent. Thomas said he was "optimistic" and "confident" for the fourth quarter. "In general, everything is going along very well for us on the same basis," he said.

Thomas also added that  consumers tended to favour strong brands such as Hermes in times of economic uncertainty as they regarded such products as long-term investments they can pass on to their children.

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