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One quarter after another looks very similar for the luxury goods sector. Faced with a complicated consumer environment due to inflation, and sluggish growth in China, luxury companies are finding it hard to increase their sales.<\/strong><\/p>\n <\/p>\n However, those that have performed well are continuing to do so, while those that were in the red are staying there.<\/p>\n <\/p>\n <\/p>\n One publication follows another for Herm\u00e8s<\/strong>. Once again, the world’s number 3 luxury goods company by market capitalisation has reported double-digit sales growth, up 15% on a comparable basis<\/strong> (excluding the currency effect). Moreover, all its geographic regions reported double-digit growth, and half-year net profit was up by 6.3%.<\/strong><\/p>\n <\/p>\n These figures are all the more satisfying given that the luxury goods sector is in a phase of slowdown, or even negative growth, while the geopolitical context is complex. All regions reported positive growth, with the exception of China, where demand remains sluggish.<\/p>\n <\/p>\n Herm\u00e8s’ strengths remain its model of artisanal production and its exclusive distribution network<\/strong>, with new and extended shops. The group can also count on the loyalty of its customers around the world.<\/p>\n <\/p>\n As for the Italian luxury group Prada, both sales and operating profit rose in the first half<\/strong>, exceeding analysts’ expectations. This new performance was mainly due to retail sales of the Miu Miu<\/strong> brand, which almost doubled under the creative direction of Miuccia Prada. Miu Miu now accounts for almost a quarter of group sales.<\/strong> Prada shares have risen by 30% since the start of the year<\/strong> on the Hong Kong stock exchange.<\/p>\n <\/p>\n The other top-of-the-range Italian brand that is doing very well is Moncler, whose sales rose by 11% in the first half of the year.<\/strong> The Moncler House, which accounts for more than 80% of group sales<\/strong>, was buoyed by strong growth in Japan, driven mainly by tourism, as well as a positive performance on the Chinese mainland.<\/p>\n <\/p>\n On the other hand, Stone Island<\/strong>, the group’s other brand, recorded a fall in sales in the second quarter<\/strong>, mainly due to the weak performance of its wholesale network.<\/p>\n <\/p>\nHerm\u00e8s, Prada and Moncler maintain double-digit growth<\/h2>\n
Richemont reassures<\/h2>\n
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