The Birkin bag-maker Hermès has defied the downturn in the luxury shopping sector to post a stellar rise in third-quarter sales as it continues to outshine rivals hit hard by China’s slump. The French company generated €3.7 billion (£3 billion) in revenue for the three months ending in September, an 11.
3 per cent rise at constant exchange rates and slightly ahead of expectations. The group said it was sticking with medium-term guidance for continued revenue growth despite global economic, geopolitical and monetary uncertainties. “We see Hermès as the best current opportunity to protect the portfolio from a difficult second half, suffering from a global cyclical slowdown exacerbated by structural issues in China,” said Bernstein luxury goods analyst Luca Solca, noting that all divisions except watches had posted higher growth than expected.
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