China helps Hermes sales blooms in Asia
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The company has reported strong sales growth for the first half of this year with all business lines and all geographical areas all ahead of last year, and especially positive momentum in greater China and the whole Asian region. The group benefited from the opening of its Landmark Prince’s store in Hong Kong in January, and a Changsha store which opened in May.
According to the report, figures for Asian sales (excluding Japan) showed a 15 per cent growth as opposed to an average growth across all sectors of 11 per cent.
The group’s consolidated revenue amounted to €2.853 billion (US$3.347 billion) in the first half of 2018.
Hermes’ final half-year results, which will be published on September 12, will include a net capital gain for the Asian region of €50 million (US$58.65 million) resulting from the sale of the former Hong Kong flagship store.
Questions & Answers
Q.What was Hermes' overall revenue for the first half of this year?
What was Hermes' overall revenue for the first half of this year?
The group's consolidated revenue reached €2.853 billion (US$3.347 billion) in the first half of 2018. This figure represents strong sales growth across all business lines and geographical areas compared to last year.
Q.Which specific regions showed the strongest growth for Hermes?
Which specific regions showed the strongest growth for Hermes?
Hermes experienced particularly positive momentum in Greater China and the entire Asian region. Sales in Asia, excluding Japan, grew by 15 per cent, outperforming the 11 per cent average growth across all sectors.
Q.Did any new store openings contribute to this growth?
Did any new store openings contribute to this growth?
Yes, new store openings helped the group's performance. Hermes opened its Landmark Prince’s store in Hong Kong in January and a Changsha store in May, both contributing to the positive sales figures.
Q.Will there be any additional financial gains reported for the Asian region?
Will there be any additional financial gains reported for the Asian region?
Yes, the final half-year results, due on September 12, will include a net capital gain of €50 million (US$58.65 million) for the Asian region. This gain comes from the sale of the former Hong Kong flagship store.
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