Hermes Reports Surge in Fourth-Quarter Sales, Beating Expectations
Hermes, the renowned French luxury-handbag maker, has emerged confident from a slowdown in the luxury sector, as it achieved a significant surge in fourth-quarter sales. The company’s exposure to wealthy consumers played a crucial role in its success during this period. According to Visible Alpha consensus, Hermes reported revenue of €3.36 billion ($3.62 billion) for the last three months of 2023, surpassing analysts’ expectations of €3.26 billion. The revenue growth in all regions was double-digit, with Asia contributing the most with €1.72 billion. The leather goods and saddlery business, which includes bags and small leather items, experienced a 10% increase in revenue to €1.37 billion.
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