Monday, Jul 28, 2014Monday, Jul 28, 2014
News
 

Hermes luxury sales dazzle, despite graft drive in China

Published on Feb 14, 2014 12:19 AM
 

PARIS (AFP) - French luxury group Hermes achieved record sales last year, and said on Thursday its scarves and handbags flew off the shelves in China despite a clampdown on ostentatious spending there.

Overall sales last year rose by 7.8 per cent to exceed 3.75 billion euros (S$6.5 billion) for the first time, and the group said it would soon raise its prices.

And in China the company pushed sales up by nearly 20.0 per cent before allowance for exchange rates.

The one exception was sales of Hermes watches which suffered in China. But the fastest growth was in the United States.

 
If you are not a subscriber, you can get instant, unlimited access here