Hermes Downplays Chinese Sales Slowdown

13 November 2018

French Birkin bag maker Hermes has reported strong third-quarter sales momentum, with its leather goods division performing outstandingly. The company has also shrugged of claims of a slump in Chinese sales.

As a trade war with the United States drags on, investors have been worries about a potential slowdown in spending among Chinese customers in luxury goods.

However, Hermes have said such fears are groundless for now.

“We don’t see any change of pace at this stage,” Chief Executive Axel Dumas told reporters, explaining that the company has “read a lot” about potential concerns regarding Chinese consumers and had discussed it internally.

The company’s revenues came in at £1.27 billion in the July to September period, rising 9.7% from a year ago at constant currencies.

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