We’ve said it before, and we’ll say it again: things are looking up for the luxury industry. All Hermes business sectors have indicated growth this quarter, and according to media representatives at Hermes, all major world markets have indicated growth also– excluding Japan, where sales dipped 1 per cent.
In Europe, sales rose 19 per cent during the third quarter, in the USA, by 23 per cent (the opening of the first Hermes store dedicated to men on Madison Avenue in NYC is perhaps largely responsible for this). Non-Japanese Asia demonstrated an astronomical 41 per cent increase in sales, to be expected given the company’s increased concentration in investment in the region– three new stores have opened in China since the beginning of the year. Other exciting initiatives have included the new Shang Xia brand.
It’s exciting to see Hermes doing so well, and we wonder if these reports of success will up the anti re: the recent controversy surrounding LVMH’s acquisition of Hermes shares. LVMH is still insisting it has no plans for a takeover, but regardless, has clearly made a solid investment. Hermes plans to maintain control of its operations and has motions in place to increase its distribution network. Its plan for sustaining its current growth, you ask? The answer lies in its creative designs and the vitality of its craftsmanship. Of course, as one of the world’s most iconic luxury fashion names, we are hardly surprised.
mage credit: hermesfan.com
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