Leather goods specialist Hermès enjoyed a forecast-beating leap in sales in the third quarter, in the latest sign of how the top-end of the luxury goods sector has not yet been affected by the stresses in the global economy.
The French group known for its €10,000 plus Birkin handbags delivered a 24 per cent like-for-like rise in revenue to €3.1bn, ahead of analyst expectations for a 15 per cent rise, driven largely by strong demand in China as Covid-19 restrictions in some cities lifted this summer.
The return of big-spending American tourists, helped by a strong dollar, to Europe also drove sales higher in France, Italy and the UK, the group said in a statement.
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