Hermès sales up thanks to "high desirability" of leather goods

Hermès has reported sales of £2.8 billion (€3.3 billion) for the third quarter, up 7.3% but lower than previous quarters in the current fiscal year. 

The leather goods and saddlery business posted a 7% rise in sales, benefitting from "very sustained demand and high desirability".

The ready-to-wear and accessories business achieved 10.2% growth, with its men’s and women's SS24 fashion shows "very well received".

Sales across the watches business also increased 12.1% during the third quarter, but declined 1.7% in the company's silk and textiles business.

The perfume and beauty business reported sales up 3.5%, which benefitted from the launches of the company’s latest creations and classics.

Beauty was enriched by a fifth chapter, the Regard Hermès, launched at the end of September, inspired by the house’s emblematic colours.

All geographical areas posted "solid performances", with sales up 16.4% in Europe thanks to the "loyalty of local customers and dynamic tourist flows".

Looking ahead, the company said it continues the year with confidence, helped by the "highly integrated artisanal model, the balanced distribution network, the creativity of collections and the loyalty of clients".

Axel Dumas, Executive Chairman of Hermès, said: "The solid performance in the third quarter reflects the desirability of our collections all over the world. More than ever, in an uncertain global environment, we are reinforcing our investments and our teams to support growth."