Economy Country October 24, 2024

Hermès Reports Strong Q3 Sales Growth

French luxury goods company Hermès announced a 10.1% increase in Q3 sales reaching €3.7 billion, with significant growth in Europe and Japan. The company remains optimistic about medium-term revenue growth despite global economic uncertainties.


Hermès Reports Strong Q3 Sales Growth

A French company specializing in luxury goods has announced strong sales in the third quarter and expressed its expectations for mid-term growth. Sales increased by 10.1% in the third quarter to 3.7 billion euros compared to 3.3 billion euros a year earlier. In Europe, the company's sales grew by 16.5% to 949 million euros. Sales in Asia increased by 3.5% to 1.94 billion euros, and in the Asia-Pacific region, excluding Japan, they grew by 0.6% to 1.58 billion euros. Sales in Japan increased by 18.5%, while in the Americas, they rose by 11%. Over the first nine months of the year, the company's revenue increased to 11.2 billion euros, growing 11% at current exchange rates and 14% at fixed exchange rates. As for future expectations, the company, known for its production of large bags and clutches, stated: "In the medium-term perspective, despite the economic, geopolitical, and currency uncertainties worldwide, the company has confirmed its ambitious goal of increasing revenue at fixed exchange rates."