Monday, 8 February 2010
After outperforming forecasts during the festive season, Hermes expects sales to rise 5 percent at constant currencies (after climbing 4.1 percent in 2009) and aims to maintain its operating margin.
"Christmas was better than expected, we had not foreseen such growth," Hermes’ Finance Director, Mireille Maury, told Reuters. "We are optimistic (about 2010)."
In the fourth quarter, Hermes' leather goods sales rose 16.8 percent at constant currencies to 278.7 million euros, silk and textiles were up 17.7 percent and ready-to-wear and fashion accessories were up 12.2 percent.
For more Hermes news, see our January report on Hermes creating a subsidiary, Shang Xia.
We also heard a student-built communications satellite named Hermes will be launched into outer space by NASA shortly. This seems ironic to us, considering its luxury namesake appears to be a rising star…
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au