Hermes sales beat expectations, defying luxury sector gloom
© Reuters. FILE PHOTO: A Hermes store sign is seen at a shopping mall in San Diego, California, U.S., November 23, 2022. REUTERS/Mike Blake/File Photo
But Hermes, which caters to shoppers who can afford handbags like the coveted $10,000 plus Birkin model, has a reputation of weathering economic turbulence better than rivals. In Europe, sales grew 18.1%, with Du Halgouet noting no sign of a slowdown in tourist traffic in the region, and no slowdown in France, including in the first weeks of October.Store traffic continued to rise strongly in mainland China, with a strong bounceback in business in July and August, and an acceleration in the third quarter.
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