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Back in force: Hermes sees luxury demand recover from pandemic freeze

Revenue rose 6.9 per cent on an adjusted basis to 1.8 billion euros ($2.1 billion) in the third quarter, beating estimates by 100 million euros

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Hermes shares rose as much as 1.4 per cent in Paris and traded near a record, having gained more than 20 per cent this year

Angelina Rascouet | Bloomberg

3 min read Last Updated : Oct 23 2020 | 1:19 AM IST

Hermes International returned to growth as consumers regained an appetite for products like Birkin bags after lockdowns earlier this year.

Revenue rose 6.9 per cent on an adjusted basis to 1.8 billion euros ($2.1 billion) in the third quarter, beating estimates by 100 million euros. Hermes shares rose as much as 1.4 per cent in Paris and traded near a record, having gained more than 20 per cent this year.

The luxury industry is back in force, with LVMH shares also reaching a record recently after the Louis Vuitton owner’s unexpected rebound in fashion and leather sales. While Hermes said the impact

Topics : Hermes

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