THE WHAT? Hermes International has announced its results for the second quarter of fiscal 2023. Bucking the wider trend in luxury as US sales stall, the French designer reported a 28 percent rise in sales at constant currency to hit a total of €3,317 million.

THE DETAILS All business lines and regions showed strong momentum, Hermes said, with growth of 20 percent or above for all geographic units and exceptional growth in Asia where stores put on 25 percent and wholesale activities jumped 26 percent thanks to a rebound in travel retail.

Leather Goods and Saddlery rose 21 percent while Ready to Wear saw sales boosted an impressive 35 percent. Perfume and Beauty continued its momentum with sales up 10 percent. Silk and Textiles, Watches and Other grew 22 percent, 24 percent and 32 percent respectively.

For the first half, consolidated revenue amounted to €6,698 million, up 25 percent at constant exchange rates compared to the same period in 2022.

THE WHY? Axel Dumas, Executive Chairman of Hermes, commented, “The 2023 first half results reflect the strength of the pillars of the artisanal model of the house: quality of materials, exceptional know-how and abundant creativity. To support this growth, we continue to invest in our production capacities, in the expansion of our network, while accelerating job creation and training in all of the group’s metiers.”