The luxury sector, severely tested by the lockdown, is breathing again: in the third quarter of the year, the summer one, the reopening of businesses and the recovery of GDP in China benefited various groups including the French Hermes, which in the aforementioned period seen its sales climb back to over 1,8 billion euros, driven precisely by a "remarkable performance" in Asia (+29%), but not only. For the months of July, August and September, the company's turnover therefore increased by 6,9% at constant exchange rates (+4,2% at current exchange rates). In the second quarter instead sales had marked a 42% decline due to the restrictions imposed by the coronavirus pandemic globally. However, that flop affects the accounts for the first nine months, in which the sales volume is down compared to the same period of 2019.
As at 30 September, at the end of the nine months of the year, the consolidated revenues of the group amounted to 4,28 billion euros, down 14% from the previous fiscal year. The leather goods and saddlery division confirmed to be the driving force of the group, generating 2,16 billion euros, albeit down by around 13%, while clothing and accessories achieved sales of 974,4 million. The European market in particular reported revenues down by 29,2% to 1,04 billion euro, while the Americas decreased by 30% to 606,5 million. “We remain confident despite the fact that the future is still uncertain. Our good performance allows us to continue investing and creating jobs,” he commented Executive Chairman Axel Dumas.
