The French luxury group said this morning that it achieved 3.4 billion euros in sales in the first quarter, a 22% jump year-on-year. Results that follow a record year in 2022.
After an excellent year in 2022, 2023 is off to a good start for Hermès. The luxury group has just released its sales figures for the first quarter of 2023, which “continues the good results of 2022” according to Axel Dumas, its manager.
The sales of 3.4 billion euros, up 22%, are thus higher than the expectations of Factset and Bloomberg, which were expecting 3.16 and 3.2 billion euros respectively.
Asia is doing well
Excluding Japan, Asia is up 21.8%, driven by a “very good Chinese New Year” and continues its strong momentum in Greater China and throughout the region, particularly in Thailand, Singapore and Australia.
“In Greater China, we have strong growth rates and very robust traffic,” said Eric du Halgouët, Chief Financial Officer, during a conference call. He also highlighted the “very good performance in Hong Kong and Macao“.
New workshop in Normandy
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