Luxury giant Hermès said its sales grew by 31% in the third quarter, beating market expectations even as the pace of the rebound from the fallout of the coronavirus pandemic slowed down from the previous three months.
The French label bought in 2018 by Chinese group Icicle is relaunching in Europe. It recently upgraded its website and dropped a new perfume, and has now revamped its long-established Champs-Elysées flagship in Paris.
Hermès had a good first quarter as all of its business lines returned to growth and the company said it saw "a remarkable increase" in ready-to-wear and accessories, as well as watches and other categories.
LVMH has appointed Chris de Lapuente as its new Chairman and CEO of the luxury conglomerate’s Selective Retailing Division, making him one of the most powerful executives within the giant French luxury conglomerate.
2019 was a good year for Hermès and the firm remains upbeat, despite a small slowdown in Q4 and the recent coronavirus outbreak. It saw strong performances in RTW, jewellery, Asia, the Americas and the UK.