Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Herm?s International sales up by 12%
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Herm?s International SA has delivered a recession-defying second quarter global sales increase of 12% to E.446.6m ($635m) between April and June which is said to have been driven by a big increase in demand for
its handbags and leathergoods.
The company pointed to a rise of 33% of its leathergoods' products to E.228m ($323.5m) which now accounts for a share of 50% of the luxurygoods' company's annual sales. The company said that this included a double-digit percentage growth in Asia, excluding Japan and a good performance in China.
But it also registered an 11% sales decline in watches over the same period and it is predicting that overall sales will be flat for the full year compared with 2008.
In a statement, the company added that it is continuing with its expansion into Asia and the Americas where it plans to open five new stores in the second half of 2009.
The company said that overall sales for the second quarter in regional terms saw a 13.5% rise in the Americas, a 6.9% decline in Europe – excluding France – and a 36.7% increase in the Asia Pacific region – excluding Japan.
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