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French luxury goods company Hermes' Q1 FY21 sales rise to €2,083 mn

05 May '21
2 min read
Pic: Hermes International
Pic: Hermes International

Hermes International SA, a French high fashion luxury goods manufacturer, reported 38.4 per cent revenue growth to €2,083.7 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenue of €1,505.5 million in the same quarter previous fiscal. The group’s sales in France during Q1 dropped to €153.1 million (Q1 FY20: €168.9 million).
 
“I would like to thank our employees who, for a year now, have been showing great courage and unfailing commitment. In a still unstable context, our strong sales growth confirms the robustness of our sustainable artisanal model and the desirability of our collections to our customers all over the world,” Axel Dumas, executive chairman of Hermes, said in a press release.
 
Sales in Europe (excluding France) came down 2.9 per cent to €227.9 million (€234.7 million), whereas Asia-Pacific (excluding Japan) reported 88.1 per cent growth in sales to €1,130.1 million (€600.9 million) driven by highly dynamic activity in Greater China and sustained activity in Korea, Thailand, Singapore and Australia. Sales in Americas grew 12.6 per cent to €290.9 million (€258.5 million).
 
During Q1 FY21, sales of ready-to-wear and accessories jumped 45.3 per cent to €473.4 million (€325.8 million). Leather goods and saddlery sales grew 28.1 per cent to €987.9 million (€771.1 million), while silk and textiles sales increased 29.0 per cent to €148.4 million (€115.0 million).
 
“The ready-to-wear and accessories division pursued its strong dynamic, thanks to the success of the ready-to-wear and fashion accessories collections. The women’s Autumn-Winter 2021 fashion show was staged in digital format in three acts from New York, Paris and Shanghai in March and the fashion show was met with great appreciation from the public, as well as the men’s collection unveiled in January,” the company stated in the release. “The silk and textiles business line progressed well, thanks to the diversity of creations, materials and formats that have met with great success with our customers, particularly in Asia.”

Fibre2Fashion News Desk (JL)

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