Luxury fashion brand Hermes grows in Asia



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Luxury fashion brand Hermes grows in Asia

Hermes is a company that sells luxury products such as bags, perfumes, leather goods, etc. These products are sold within its brand’s stores, and most of them are managed by its company. The company often tries to be well located in the big cities. According to the latest figures, luxury fashion brand Hermes still grows in China. The company has strong sales growth for the first six months this year with all geographical areas and all business lines all ahead of last year, especially in mainland China and some other Asian regions. The company benefits from the new Landmark Prince’s store in Hong Kong this January and a Changsha store this May.

Studies found that the sales of fashion brand Hermes in Asia, excluding Japan, increased by 15% if compared to an average growth in all sectors of about 11%. The consolidated revenue of the group achieved € 2.853 billion in the first six months this year. The final half-year revenue of the group will be reported on September 12. It will be able to achieve €50 million due to the sale of the former flagship store in Hong Kong.
The trend is that Chinese consumers are slowly coming back. They are one of the most prolific shoppers of luxury goods globally, and they may account for nearly one third of demand. The company says these return to stores has been created by government policies that encourage domestic consumption.
For the 2018 year, Hermes focuses on improving end customer experience and driving global growth. Especially, it focuses on Asian e-commerce markets, and its clients such as the Asian top retailer Alibaba. Also, the brand is seeking partners to gain its global reach, which will support its existing international retailers growth and generate new business.

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Luxury fashion brand Hermes grows in Asia

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