×
115
Fashion Jobs
L'OREAL GROUP
Area Sales Manager - Consumer Products Division, Mumbai
Permanent · Mumbai
NIKE
sr. HR Operations Specialist
Permanent · Bengaluru
L'OREAL GROUP
Senior Manager - Digital Marketing & D2C, Kerastase
Permanent · Mumbai
NIKE
Lead Product Management – ed&a, Icc, India
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
PUMA
Assistant Business Manager – Puma.Com
Permanent · Bengaluru
NIKE
Senior Software Engineer Iii – Retail Commerce Passplay, India - Consumer & Marketplace Icc
Permanent · Bengaluru
L'OREAL GROUP
Indirect Sourcing Manager
Permanent · Baddi
NIKE
Sap bi Lead Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
SAAHRA
Graphic Design Summer Internships
Internship · NEW DELHI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
By
Reuters
Published
Mar 20, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Handbag maker Hermès still benefiting from buoyant Asian demand

By
Reuters
Published
Mar 20, 2019

Upmarket handbag maker Hermès, one of the luxury brands still riding high on strong demand from Asian clients, said on Wednesday it had not observed any change in sales trends so far this year.




The French label, known for its squared silk scarves and Birkin handbags that sell for more than $10,000, posted a 15 percent rise in net profit for 2018 to 1.4 billion euros (1.20 billion pounds). Operating income rose 6 percent to 2 billion euros.

A U.S.-China trade war has raised fears that firms heavily reliant on Chinese demand will suffer as the mood among consumers sours, though some luxury labels appear to have retained their appeal as younger shoppers seek out branded goods.

“There is no trend change at this stage,” Chief Executive Axel Dumas told journalists. Hermès remained cautious for 2019 but was confident about its longer-term prospects.

Hermès had already reported 10 percent comparable sales growth for the fourth quarter, with revenue expanding in Asia Pacific at a quicker pace than in the previous three months.

Along with rivals such as LVMH’s Louis Vuitton, and Kering’s Gucci and Balenciaga brands, it is one of the high-end labels still profiting from thriving Chinese demand and a mostly benign industry backdrop globally.

By contrast, Italy’s Salvatore Ferragamo and Tod’s are among those struggling to reverse a drop in sales and core profit, and are bidding to rejuvenate their brands as they invest in marketing.

Dumas said all of its divisions, which also include perfumes and watches, were still performing well globally in terms of sales volumes in the first few months of the year, though the silk unit remained in a phase of moderate growth after revenue expanded at a slower clip last year.

Hermès was increasing its prices globally by 3 percent in 2019, Dumas added, to adjust for increased production costs.

Margins reached 34.3 percent of its sales in 2018, a slight dip from the record reached a year earlier as rises in production costs outpaced those of its merchandise, although they remain among the highest in the industry.

© Thomson Reuters 2021 All rights reserved.