Birkin-bag maker Hermès reported a 13 percent rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back.
Sales at the French luxury group grew to €3.7 billion ($4.02 billion), a 13 percent organic sales rise that strips out currency fluctuations. The figure was in line with analyst expectations, according to a Visible Alpha consensus.
Operating profit for the first half was €3.1 billion, compared to a forecast from consensus provider Visible Alpha for €3.2 billion.
By Mimosa Spencer; Editor: Alexandra Hudson
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Case Study | Inside Hermès’ Best-in-Class Leather Goods Strategy
How a unique approach to supply chain, design, communications and retail has powered blockbuster demand for iconic bags like the Birkin and Kelly, enabling the French leather goods house to face down rivals and become a global megabrand with a market capitalisation greater than Nike’s.
