Hermes reports sales growthTuesday, 22 July 2008
Hermes on Tuesday reported higher than expected sales for this year's second quarter, driven by growing demand in America and Asia, but excluding Japan. The French luxury firm, which sees said sales in the three months through June advanced 12.1 percent to 398.1 million euros despite continued tough business in the important Japanese market.
The results beat most analysts' expectations and signaled health among Europe's key luxury players despite the tough economic environment.
Hermes was founded in 1837 as the saddle shop of Thiery Hermes in Paris. It quickly became an international success, these days specialising in leather, ready-to-wear, lifestyle accessories, and perfumery luxury goods. The company is highly renowned as a true luxury house and is recognized by its dual carriage with horse logo.