HERMES confirms gradual recovery from crisis
In a recent interview, Patrick Thomas, CEO of HERMES International confirmed that overall sales of the company for the first half of 2009 have been in line with expectations. Sales of leather goods in its own stores rose by more than 15% while sales of watches, tablewear and perfumes dropped, bringing net profits down with 7% for the first 6 months of 2009. Mr Thomas believes recession in Japan is far from over and does not forsee a timing for recovery.
Hermes continues its international expansion this year with 8 new stores worldwide. Following the success of the temporary Hermes store in upscale resort town of East Hampton, Hermes have decided to open a temporary store in Paris this fall, as well, more precisely on rue Grenelle.