Luxury does not flinch. In the third quarter of fiscal year 2022, Hermès has once more shot up its sales with a growth of 32.5%, up to 3,136 million eurosas made known today through a statement.
The French company, one of the largest in its sector in terms of turnover, has billed 8,611 million euros in the first nine months of the yearuntil September 30, 2022. This is a growth of 30% compared to the same period of the previous year.
For the full exercise Hermès has pointed out that “the impacts of the geopolitical, economic and health context are still difficult to measure” and has ruled out making detailed forecasts for the fiscal year. Still, the company “looks to the future with confidence,” he says.
Hermès has “come back” in China in the first nine months of the year, although it does not give details of its performance in the country
by markets, Hermès has increased its sales in all the markets in which it operates in the first nine months of the year. In Asia, the company grew by 28.7%, to 5,064 million euros.
Although the company does not break down its sales by country, it has detailed that, in China, its turnover “has risen despite the temporary closures in Macao, Chengdu and Falian in July and August”. The Asian market is the most important for the company in terms of turnover and, in the period, opened stores in Hong Kong, Macau and Zhenghou.
In Europe, the second largest market for Hermès, the company invoiced 1,876 million euros until September 2022, which represents a year-on-year increase of 25.8%driven by “the recovery of tourism, especially in France, the United Kingdom and Italy”, describes the company.
By business divisions, watchmaking experienced the greatest growth in the period, with a year-on-year jump in sales of 55%, to 401 million euros. It is followed by the fashion and accessories business, which grew by 38%, to 2,377 million euros.
The Hermès leather goods line, the largest for the French group, increased its sales by 13%, with a notable boost in the third quarter in the Chinese market. In the first nine months of the year, the company invoiced 3,663 million euros through this division.
