Mar 22, 2017
Hermes reports record annual profits
Last month, its French rival LVMH reported record sales. Hermes said sales of its leather goods and saddlery, which account for half of the group's sales, rose by 14%, aided by the success of the Constance, Halzan, Lindy, Birkin and Kelly bags. Silk and textile sales, which earlier in the year were affected by terror attacks in Europe and slowing sales in China, picked up towards the end of 2016. Perfume sales rose by 9%, helped by the launch of new fragrances. Watch sales slipped 3%, "Penalised by a still challenging market" and a high comparison basis at year-end.
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