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How did Hermès stand out during the health crisis ?

How did Hermès stand out during the health crisis ?

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These last few months of health crisis have been a sign of decline for the luxury world. But one luxury brand has managed to slip through the cracks: Hermès. Since the beginning of the year, Hermès has recorded a stock market increase of nearly 40%.

 

The first half of the luxury giant is marked by a 38% increase in sales at current exchange rates to 2.1 billion euros, but especially by an explosion of sales in Asia and a 23% increase in America. These percentages more than compensate for the 9% decline in France due to the confinement.

 

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According to Eric Lewin, a journalist and advisor to a Small Caps fund at CFD Asset Management, the success achieved by Hermès is due to its pricing power, i.e. the power to increase its prices without a drop in demand. And for good reason: the brand’s customers are not opposed to a few percent increase in the price of an item.

 

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