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Tuesday, December 30, 2014

Hermès's Leather Goods Are Selling Like Hotcakes

Hermès's Leather Goods Are Selling Like Hotcakes:

A look from Hermès's spring 2015 collection. Photo: Imaxtree
A look from Hermès's spring 2015 collection. Photo: Imaxtree
Last month, U.S. officials seized $1.8 million worth of counterfeit Hermès bags. However, that seemingly large counterfeiting problem doesn't seem to have done much damage to the French luxury heritage brand's own handbag business.

Hermès said Thursday that revenue increased by a healthy 11 percent to 990.6 million euros ($1.2 billion) in the third quarter of 2014, and much of that was thanks to demand for the brand's French-made, high-end leather goods. That category grew 15 percent.

Ready-to-wear also fared pretty well, growing 13 percent over the quarter, underlining what we knew -- that recently departed Creative Director Christophe Lemaire has left some pretty big shoes to fill.

Regionally, demand in Japan and the U.S. was high -- sales went up 13 percent and 14 percent in those countries, respectively. In Europe, sales only grew 7 percent, due to the challenging economic climate there, which most other luxury brands have also experienced in recent months, Michael Kors excepted.

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