Is the US-China trade war impacting all fashion brands? Doesn’t seem so, after seeing Hermes record an impressive sales growth in the first 6 months of 2019.
The French luxury retailer clocked a 14.7 per cent growth in sales touching €1.67 billion in Q2 ending June – contrary to the predictions made by all analysts and experts.
And the numbers are good in the first half as well!
15.1 per cent growth in 6 months (€3.28 billion) is enough to indicate that Hermes seems to have hardly got impacted by any tension between trade giants.
Asia (except Japan) has been the most fruitful among all regions for the French retailer, with 18.6 per cent rise in sales in Q2 (excluding currency effects).
Hermes, reportedly, owes the terrific sales growth in Asia to positive momentum in continental China as well as double-digit growth in other Asian countries.
In Japan, sales grew by 10 per cent and in Hong Kong too, growth has been in double digits.
More on same, Eric du Halgouet, Finance Director, Hermes, said “The growth in Hong Kong has been good despite pro-democracy demonstrations in June that led to the closure of 2 stores for a brief period.
