Hermes Birkin bag on a window display at the Kadewe department store in Berlin, Germany on Friday, January 3, 2025.
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Haute couture house Hermes The growth in fourth-quarter sales exceeded expectations, proving that demand for the most unique products in the otherwise volatile luxury market remains strong.
The manufacturer of Birkin handbags rose 17.6% to €3.96 billion ($4.15 billion) in the three months ended December 31, surpassing LSEG analysts’ €3.69 billion forecast.
Full-year sales increased by 14.7% at a constant exchange rate to 15.2 billion euros, compared with an expected 14.94 billion euros.
“In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results demonstrates the strength of the Hermes model and the House of Representatives,” said Axel Dumas, Executive Chairman of Hermes. The team’s agility, I’m very grateful to them.”
Hermes has largely escaped the recession of the wider luxury industry and maintained a sense of temptation and exclusivity, while other brands face thrust in higher costs and limited innovation.
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