Demand for high-end Birkin and Kelly handbags helped drive strong sales growth at Hermès, but the luxury group’s shares fell on heightened investor expectations for the sector after LVMH reported a return to growth last week.
Third-quarter like-for-like sales rose by 9.6 per cent to €3.88bn, the French luxury group said on Wednesday, compared with a year ago.
Sales in the Americas increased 14 per cent in the quarter, driven by an improvement in the US. In Asia, excluding Japan, sales rose by 6.4 per cent “notably in Greater China”, where luxury demand appears to be stabilising after a challenging couple of years for the industry.
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