Hermes defies luxury slowdown with sales jump in China, outpacing competition
In stark contrast to its industry counterparts, Hermès experienced a significant upswing in sales in the first quarter of 2024, particularly in China. While French rivals LVMH Moët Hennessy Louis Vuitton SE witnessed slow growth and Kering weathered a downturn, Hermès stood out as a resilient player in the luxury goods sector. We explore the factors behind Hermès’ success, current market trends, and what this could mean for the future of the luxury goods industry. Factors Contributing to Hermès’ Success Hermès has reaped the rewards of its commitment to exclusivity, seeing a 17% hike in revenues during Q1 primarily due…
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