Hermes Birkin bag at a window display at Kadewe Store in Berlin, Germany, on Friday, January 3, 2025.
Bloomberg Bloomberg Gety pictures
High fashion house Hermes On Friday, on Friday, I reported a better jump than expected in sales in the fourth quarter, proving a strong demand for the most distinctive products in a turbulent luxury market.
Birkin handbag’s maker increased by 17.6 % in revenue at fixed exchange rates to 3.96 billion euros ($ 4.15 billion) in the three months until December 31, and excelled over 3.69 billion euros by LSEG analysts.
The whole year sales increased by 14.7 % at fixed exchange rates to 15.2 billion euros, compared to 14.94 billion euros.
Hermes has greatly evaded the recession in the wider luxury sector in recent years, while maintaining a sense of attractiveness and exclusive as other brands have faced spreading amid higher and limited costs.
CEO Axel Dumas referred to customers’ loyalty to maintaining sales growth in the volatile macroeconomic environment.
“In 2024, in a more mysterious economic and geopolitical context, the strong performance of the results is witnessing the strength of the Hermes model and the lightness of the individual of the home teams, which I thank,” Dumas said in a statement accompanying the results.
Looking at the future, the French fashion house expects the growth of revenues in 2025 without providing a specific personality, and said that it moves to the year with “confidence”. However, Dumas added in a profit call that we could have seen a turning point “in the broader industry, according to Reuters.
This is an urgent news story and will be updated soon.
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