Hermes sales rise despite US tariffs, weak dollar
French luxury house Hermes reported stronger American sales despite trade barriers and currency challenges in the recent quarter. Revenue from the United States climbed 7.2 percent to 714 million euros as customers bought across all product categories. The maker of Birkin handbags maintained steady pricing since July, when Washington and Brussels reached a tariff agreement.
Company executives said the weaker dollar reduced potential gains by nearly half compared with exchange rate-adjusted figures. Sales across all markets rose 5 percent to 3.9 billion euros for the period. Performance in China remained flat as the brand faced headwinds in the critical Asian market.
Hermes has named British designer Grace Wales Bonner to lead menswear collections, succeeding the previous director who held the position for 40 years. Shares fell 4.7 percent in Paris trading after the results. The brand expressed confidence in medium-term prospects despite global economic uncertainty affecting the broader luxury sector.
