Thursday 22 July 2010

Hermes On A Winning Trail- Revenue Forecast Raised- 22/07/10

Due to an increase in demand from Asia, Hermes have raised their 2010 revenue forecast. Second quarter sales have increased greater than was foreseen by analysts, with the full year revenue tipped to grow to as much as 12%. The Asian based demand has seen particular focus from wealthy Chinese shoppers who are after luxury goods. Hermes stock has risen 27% this year, which has resulted in a staggering market value for the company of $16.2 billion, with sales in silk ties and scarfs gaining 24%. Hermes now plans to open a further 20 stores this year- and it seems the iconic Hermes scarf is flying high.

Image credit: hermes.com

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Posted by MO at 6:00 am
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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