Hermes reports strong sales for August and September
Hermes International, the French maker of silk scarves and leather handbags, said it has yet to be affected by the weakening global economy as wealthy shoppers continue to buy the most expensive luxury goods. Sales were “very good” in August and “September seems to be good as well,” Chief Executive Officer Patrick Thomas said today in an interview before Hermes’s spring/summer 2013 women’s fashion show in Paris, where the company is based.
Hermes has a backlog of bag orders, which “may be a reason why we haven’t seen anything yet,” Thomas said. Hermes’s Birkin handbags sell at prices starting at 5,500 euros (US$ 7,073). Third-party watch sales seem to be slowing, including in China, though demand for timepieces in Hermes’s own stores hasn’t decelerated, Thomas said.
adapted from Bloomberg