×
1 523
Fashion Jobs
THE JUST GROUP
Ecommerce Business Development Manager
Permanent · Melbourne
DAVID JONES
Finance Analyst Opportunities - Emerging Talent
Permanent · Melbourne
DAVID JONES
Loss Prevention Opportunities - David Jones Queensplaza - Qld Flagship Store
Permanent · Brisbane City
SHEIKE
Area Manager - wa
Permanent · Perth
ESTÉE LAUDER
Mac Myer Macquarie - Business Manager
Permanent · Sydney
DAVID JONES
Production Manager - Accessories- Country Road
Permanent · Melbourne
THE JUST GROUP
Field Loss Prevention Manager - Vic / Tas
Permanent · Melbourne
JAY JAYS
Supply Coordinator - Jay Jays
Permanent · Melbourne
PETER ALEXANDER
Stock Coordinator - Full Time - Peter Alexander - Albany
Permanent · Auckland
DAVID JONES
Sales Manager - Womenswear - David Jones Canberra Centre
Permanent · Canberra
PORTMANS
Regional Manager - Portmans - Sydney (Nsw)
Permanent · Surry Hills
H&M
Area Operations Manager
Permanent · Melbourne
PUMA
Commercial Marketing Executive
Permanent · Moorabbin
LOVISA
Manager in Training | Vic | Werribee, Melton & Highpoint Stores
Permanent · Melton
SMIGGLE
Supply Coordinator - Smiggle
Permanent · Melbourne
SMIGGLE
Regional Manager - Smiggle - Sydney (Nsw/Act)
Permanent · Southern Sydney
SHEIKE
Regional Manager - Sydney
Permanent · Sydney
DAVID JONES
Product Manager - Financial Services
Permanent · Melbourne
DAVID JONES
Loss Prevention Opportunities - David Jones Burwood & Chatswood
Permanent · Sydney
DAVID JONES
Loss Prevention Officer - Part Time - David Jones Queens Plaza
Permanent · Brisbane City
PUMA
Merchandising Manager Women's Apparel
Permanent · Moorabbin
PUMA
Commercial Marketing Manager
Permanent · Sydney
Published
Apr 22, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hermès buoyant in Q1 as Asia, US and online soar

Published
Apr 22, 2021

​Hermès had a good first quarter as all of its business lines returned to growth and the company said it saw "a remarkable increase" in ready-to-wear and accessories, as well as watches and other categories. 


Reuters



In fact, revenues at the ultra-luxury French company surged by 44% in the quarter at constant exchange rates and 38% at current exchange rates. That came as the easing of Covid restrictions in Asia helped the region power ahead with revenues almost doubling there year-on-year. Revenue growth compared to Q1 2019 was 33%.

It all means the company has weathered the crisis better than some of its major competitors with the three months to March seeing revenues at constant exchange rates rising to €2.08 billion, smashing analysts’ predictions that they would be up ‘only’ 24%. 

Sales through the company’s own shops were a particular high point as they rose 51% year-on-year and 41% on a two-year basis. That said, wholesale was weaker with a 2% fall as travel retail suffered.

And as mentioned, Asia was key as sales on the continent (with Japan excluded) were up 94% and China was a star performer. But Korea, Thailand, Singapore and Australia also saw buoyant business. Meanwhile, sales in Japan rose 20%, despite new Covid measures. 

It wasn't only strong in Asia as the US saw a 23% sales increase, helping to counter the negative impact in Europe of a new wave of Covid and new lockdowns. Europe revenues were down 1% and France alone was down 9%. It was hurt in particular by store closures in several countries, especially in the UK, Germany and Switzerland.

But its problems in Europe were partially offset by particular strength online. E-sales doubled or more in all regions. The company told reporters that web sales should be more than €1 billion quite soon.

And what of the strength in those individual business lines? Sales in the Leather Goods and Saddlery division were up 34% (at constant exchange rates), reaching almost €989 million. Meanwhile the Ready-to-Wear and Accessories division’s revenues rose 51% as it turned over more than €473 million, Silk and Textiles rose 34% hitting over €148 million, and Perfumes and Beauty rose 21% to reach nearly €99 million. Even better, Watches were up a powerful 96% to more than €78 million and the Other category (homewares, jewellery and more) rose 93% to almost €69 million.

Copyright © 2022 FashionNetwork.com All rights reserved.