News | Latest Breaking News Stories & Headlines

Hermes continues to see demand from rich shoppers for its $10,000 handbags

Hermes quarterly sales rise by 9% on strong demand

Birkin bag maker Hermes outpaced rivals with a 9% rise in quarterly sales reported today, showing continued appetite from rich shoppers for the French company's coveted $10,000 handbags.

Business • 30 Jul

Hermes' Birkin handbags sell for upwards of $10,00

Hermes will raise US prices to fully offset Trump tariffs

France's Hermes will fully shift the burden of tariffs in the US to its wealthy clientele, the company said today, as it posted first-quarter sales that slightly missed market expectations.

Business • 17 Apr

The Louis Vuitton store on 5th Avenue in New York

LVMH overtaken by Hermes in market capitalisation

LVMH lost its position today as Europe's largest luxury company in terms of market capitalisation after being overtaken by rival Hermes due to investor pessimism after disappointing first-quarter revenue from the sector bellwether.

Business • 15 Apr

Hermes' Birkin bags cost upwards of $10,000

Birkin bag maker Hermes end of year sales jump

French luxury group Hermes has today reported an 18% rise in fourth quarter sales, showing robust appetite from wealthy shoppers for the most expensive luxury items like its Birkin bags, which cost upwards of $10,000.

Business • 14 Feb

French luxury company Hermes generated €3.7 billion in revenue for the three months ending in September

Hermes continues to outshine rivals with Q3 sales up 11%

Birkin bag maker Hermes has posted a hefty rise in third-quarter sales, continuing to outshine rivals hit hard by a downturn in China as its luxury handbags lure wealthy shoppers.

Business • 24 Oct 24

Hermes sells handbags priced at more than $10,000

Hermes quarterly sales jump 17% on strong China demand

Birkin bag maker Hermes has today reported a 17% surge in first-quarter sales, sustaining a rapid growth rate from the previous quarter including in China, and underlining strong demand for high end luxury.

Business • 25 Apr 24

Hermes said it will pay a €4,000 bonus to each of its over 22,000 employees worldwide

Hermes' shares reach record high on booming sales

Hermes' shares rose to a record high today after the Birkin bag maker again outpaced its rivals at the end of 2023 and said it will further raise its prices.

Business • 09 Feb 24

Hermes, the global luxury goods giant based in Paris, is suing a bookseller in a Turkish seaside town over alleged trade name infringement

Hermes vs Hermes:Turkish bookseller takes on French giant

In a case of Hermes vs Hermes, the global luxury goods giant based in Paris, is suing the other, a bookseller tucked away in a Turkish seaside town, over alleged trade name infringement.

Business • 06 Feb 24

Hermes caters to shoppers who can afford handbags like the coveted $10,000 plus Birkin model

Hermes third quarter sales rise by 15.6%

Sales at Hermes rose briskly in the third quarter, beating expectations and outshining rivals as economic headwinds did not stop its wealthy clientele from splurging on high-end Birkin handbags.

Business • 24 Oct 23

Hermes targets wealthier consumers with handbags like the coveted $10,000 plus Birkin model

Hermes defies luxury slowdown with strong sales

Sales at Birkin bag maker Hermes accelerated in the second quarter, showing the resilience of global demand for the group's high-end leather goods despite a clouded economic backdrop.

Business • 28 Jul 23

Hermes said that store traffic in the US continued to rise and trends in April remained favourable

Hermes sales rise 23% in Q1, boosted by China

Sales at Birkin bag maker Hermes rose 23% in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil.

Business • 14 Apr 23

Luxury brands have benefited from a strong, post-pandemic rebound as shoppers drew on savings during lockdowns to treat themselves to designer label fashion

Hermes beats forecasts on robust growth in China, US

Birkin bagmaker Hermes said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from rising Covid infections, helping it beat sales and margin forecasts.

Business • 17 Feb 23

Hermes has brushed off concerns that the industry's post-pandemic boom could be cooling due to a looming recession

Hermes plans big price rises, says no sign of slowdown

Birkin bag maker Hermes has today flagged plans to hike prices by 5% to 10% in 2023 on rising costs and currency fluctuations, much more than in the past.

Business • 20 Oct 22

Hermes has closed its three stores in Moscow and has put plans to open a new one in St Petersburg on hold

Hermes first quarter sales rise 27%

Sales at Birkin bag maker Hermes beat estimates in the first quarter, lifted by strong appetite for its luxury accessories, particularly in the US and Europe.

Business • 14 Apr 22

Hermes prefers to have long waiting lists for its prized handbags rather than accelerate production

Production caps limit Hermes sales growth in Q4

French luxury group Hermes said sales grew by 11% in the fourth quarter of 2021, just below market expectations as self-imposed production caps meant the group could not keep up with demand for its handbags.

Business • 18 Feb 22

The French luxury group has weathered the coronavirus pandemic better than rivals

Strong Asia growth powers Hermes sales in Q1

Sales at Birkin bag maker Hermes soared 44% in the first quarter, powered by strong growth in Asia, where revenues nearly doubled from a year earlier as Covid-19 restrictions eased and shops reopened.

Business • 22 Apr 21

Hermes is weathering the coronavirus pandemic better than luxury goods rivals

Strong Asia pushes Hermes sales up 16% in Q4

Birkin bag maker Hermes weathered the coronavirus pandemic better than luxury goods rivals, with sales recovering sharply in the final part of 2020 thanks to a strong performance in Asia and soaring online revenues.

Business • 19 Feb 21

Hermes said its sales picked up in the third quarter, rising by 7%

Hermes echoes luxury sales rebound amid online surge

Hermes' comparable sales picked up in the third quarter, rising 7%, and the Birkin bag maker said this positive momentum had extended into October after a strong rebound in Asia and surging online revenues.

Business • 22 Oct 20

The maker of the $10,000-plus Birkin bag said sales were improving in all regions, and particularly in Asia

Birkin maker Hermes cautious on outlook due to Covid-19

French luxury group Hermes said today that comparable sales in the second quarter fell by 42% due to the fallout of the coronavirus outbreak.

Business • 30 Jul 20

Hermes remains cautious about the outlook for the second quarter given that 75% of its stores are shut

Hermes sales fall 7.7% in first quarter as virus bites

Birkin handbag maker Hermes said today that comparable sales fell by 7.7% in the first quarter as the coronavirus outbreak forced it to close stores across the world.

Business • 23 Apr 20

Just four of Hermes' 43 stores on the mainland and areas like Hong Kong and Macau are still closed due to the coronavirus outbreak

Hermes starting to see return to normal in China

Birkin handbag maker Hermes said it was starting to see a return to normality in China, with just four of its 43 stores on the mainland and areas like Hong Kong and Macau still closed due to the coronavirus outbreak.

Business • 26 Feb 20

France's Hermes has posted a 15% rise in net profits for last year

Hermes sees no changes to sales trend as profits rise

Handbag maker Hermes, one of the luxury brands still riding high on strong demand from Asian clients, said today it had not observed any change in sales trends so far this year.

Business • 20 Mar 19

Hermes today posted a 9.6% rise in fourth quarter sales at constant exchange rates

Hermes says Chinese sales momentum still strong

French luxury handbag label Hermes said today that sales momentum in its Chinese stores stayed strong in the fourth quarter.

Business • 08 Feb 19

Hermes, the maker of deluxe Birkin handbags, has played down fears of a slowdown in China

Hermes seeing no slowdown in Chinese sales

France's Hermes today reported strong third-quarter sales momentum, with its leather goods division performing well.

Business • 07 Nov 18

Shares in Hermes, one of the most highly-valued stocks among luxury players, are up 20% since the start of the year

French handbag maker Hermes posts record H1 margins

France's Hermes said operating margins reached a first-half record at the start of 2018, after resilient demand in key markets like China helped the luxury handbag maker and most of its major rivals lift profits.

Business • 12 Sep 18