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Fashion brand Hermes revenue up 12.8% in Q1 2013
22
Apr '13
Revenues for the three months ended 31 March 2013 came to €856.8 million, a rise of 12.8% at constant exchange rates. Including the negative currency impact, growth was 10.3%.

Sales through the Group's own stores continued to expand briskly (+13.6% at constant exchange rates), driven by the success of the latest collections. Revenues from wholesale channels also delivered satisfactory growth (+9.9% at constant exchange rates).

First-quarter sales by region and sector (at constant exchange rates, unless otherwise indicated)

In the first quarter, growth was dynamic in all geographic regions:

- Non-Japan Asia (+17%, driven by China, Macau and Taiwan) and Japan (+7%), where environment seems to become more positive,

- Americas, which continues to expand (+11%),

- Europe (+12%), despite a very high basis of comparison and a dull economic climate.

Everywhere demand for Hermès collections remains strong, favoured by a growing requirement for quality, personality and timelessness of objects and clothes.

Leather Goods and Saddlery registered an increase of 7%. With the build-up of the two workshops opened in 2012, the sector's production capacity will increase steadily over 2013.

The remarkable performance in sales of Ready-to-wear and Accessories (+18%) reflects the dynamic performance of the latter and of the ready-to-wear collections.

In Silk & Textiles, growth was 15%, fuelled by the highly successful new collections and the reinforcement of investments in production capacity.

Perfume sales expanded by 18%. Lines were enhanced by Jour d’Hermès , the new fragrance for women, which was greeted with very promising enthusiasm.

Watches (-5%) were adversely affected by a slowdown in the Chinese market in the beginning of the year and by the very high basis of comparison in the previous year (+27%).

Other Hermès sectors (Jewellery and Art of Living) continued to deliver exceptional growth (+49%).

Significant events during the first quarter

As of end of March, currency fluctuations were unfavourable and had produced a negative impact of €19 million on revenue.

Hermès International did not buy back any of its own shares during the first quarter of 2013, other than shares traded under the liquidity contract.

Hermes


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