Hermes International’s Chief Executive Officer, Patrick Thomas, has told Bloomberg that he “is not optimistic at all” about the next six months because of a delayed economic recovery in Japan, the French luxury-goods maker’s biggest market.
Thomas said, “I’m not expecting to see the light of the tunnel before 2010. The Japanese economy is not good and we all feel it.”
The article goes on to say that Japan, where Hermes made 22 percent of last year’s 1.76 billion euros (US $2.6 billion) in sales, had 2.3 percent growth in the second quarter, less than initially estimated.
Hopefully the tide will turn for Hermes in Japan. In the meantime, the brand seems to be making all the right moves to attract luxury clients. For example, last month we reported the launch of a Hermes helicopter that transports customers from the airport to the city (refer to the MO Down for 10 August: Hermes Takes Customer Service To New Heights In Japan.)
And click here for the rest of Bloomberg’s interview with Patrick Thomas.