French luxury design house Hermès reported a sale of € 3.32 billion by the end of the second quarter amidst the economic backdrop.
The luxury brand takes pride in the constant sales of its high-end leather goods rounding up at 27.5 per cent at constant exchange rates showing double-digit growth in all regions.
The brand targets the high-paying and wealthy community and it is known for weathering economic turbulence because of its careful management of production and stocks.
The brand is known for its luxury items, with handbags like the coveted US $ 10,000 plus Birkin model, and is known for weathering economic turbulence better than rivals, and saw strong growth across regions.
Hermès Executive Chairman Axel Dumas said, “We’ve seen no interruption in (growth) trends. In difficult times there is what you call a flight to quality and we have benefited.”
