Paris—On the upper end, growth tends to be on target despite the slowdown in Greater Asia. On Thursday, Hermès reported its third quarter sales rose 7.9% on a like-for-like basis, helped by demand for its leathergoods and ready-to-wear.
Sales reached 1.14 billion euros (about $1.23 billion. For its first nine months of 2015, the luxury maison reported sales increases of 19% (in current exchange rate and 9% at constant exchange rates).
At the end of September, the group’s consolidated revenues reached €3 443 million, up by 19%. At constant exchange rates, growth is 9%.
Hermès maintained its 2015 target of 8% sales growth at constant exchange rates and an operating margin below the 31.5% achieved last year.
Sales by region were: Japan (+19%), Asia excluding Japan (+5%), which gained from the opening of the Maison Hermès in Shanghai in September 2014, improved in spite of a difficult context in Hong Kong, Macao and to a lesser extent in continental China,
America (+7%) pursued its development in an uncertain environment. Europe (+10%) posted a good performance in Group stores, particularly in France and Italy.
Sales by sector were Leathergoods and Saddlery up 12%; Ready-to-wear and Accessories (+9%) stem mainly from the success of fashion accessories and the latest ready-to-wear collections.
The Silk and Textiles division (+3%), which is enhancing its collections with new formats and materials, recorded growth despite a challenging context in Greater China.
The Perfume division (+6%) continued its growth driven by Terre d’Hermès and the latest creations.
Watches (-2%), which were slightly down, are still penalized by wholesale business on a still difficult market, particularly in Asia excluding Japan.
Other Hermès business lines (+12%) continued their development, driven particularly by the success of gold jewelry.