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Comment Link asiasloto February, 12 2023
Posh pack: A Hermes lizard skin handbag priced at £18,000
A handbag shortage hit sales at French fashion house Hermes.
Famed for its $10,000-plus handbags such as the Birkin and its squared silk scarves, it said stocks of its coveted bags
ran low in 2017.
However, it is benefiting, like luxury rivals
Louis Vuitton-owner LVMH, from growing appetite from younger shoppers and a soaring
demand in Asia.
Axel Dumas, chief executive, said: 'There
is good momentum in our industry because of
demographics and because of the economic growth of China and the worldwide economy.
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'We are confident for the future, and it will continue, I hope, at this kind of pace.'
Hermes is expanding its leather goods production with new workshops in France.
The firm, which also makes perfumes, clothing and watches, is trying to
boost online sales and is due to roll out a new website in Europe
and China.
Demand in other parts of Asia is up, including in Hong Kong where it opened a new store in January, and Macau.
Sales reached £4.8billion for 2017, up 9 per
cent.
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