Hermes reported better-than-expected fourth-quarter sales growth, demonstrating robust demand for its luxury goods despite a challenging economic climate. Revenue surged 17.6% to €3.96 billion in the final three months of 2023, exceeding analyst forecasts. Full-year sales also increased by 14.7% to €15.2 billion.
Hermes on Friday reported a better-than-expected jump in fourth quarter sales, proving still strong demand for the most exclusive products in an otherwise turbulent luxury market.
The maker of the Birkin handbag posted a 17.6% rise in revenues at constant exchange rates to 3.96 billion euros in the three months to Dec. 31, outpacing the 3.69 billion euros forecast.on Friday reported a better-than-expected jump in fourth-quarter sales, proving still strong demand for the most exclusive products in an otherwise turbulent luxury market.
The maker of the Birkin handbag posted a 17.6% rise in revenues at constant exchange rates to 3.96 billion euros in the three months to Dec. 31, outpacing the 3.69 billion euros forecast by LSEG analysts.Full-year sales rose 14.7% at constant exchange rates to 15.2 billion euros versus an anticipated 14.94 billion euros.
"In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermès model and the agility of the house's teams, whom I thank warmly," Axel Dumas, executive chairman of Hermes, said.Hermes has largely evaded a wider luxury sector downturn over recent years, maintaining a sense of allure and exclusivity where other brands have faced pushback amid higher costs and limited innovation.
LUXURY GOODS HERMES SALES GROWTH MARKET PERFORMANCE ECONOMIC OUTLOOK
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