From Fortune:

Luxury sales slowed mid-last year, then bounced back, while Gucci-owner Kering struggled to grow. However, Paris-based Hermès beat analyst expectations in the third quarter of 2023, with a 21% increase in full-year revenue compared to 2022. Segment growth included leather goods and silk and textiles, with strong performance in America.

With strong demand continuing, Hermès plans to further increase prices by 8-9% globally in the current year. This strategy has been ongoing for several years, with the brand planning to offset manufacturing costs and take advantage of high-performing segments. The company’s most recent results come after some of its competitors, such as Dior-parent LVMH, reported mixed results.

Hermès’s consistent performance, even outperforming its peers, is a source of optimism for market watchers. Chinese consumers, the luxury brand’s biggest revenue-driving geography, are now choosing Hermès’s high-end products over more affordable options. Hermès’s classic designs and exclusive brand status have helped it carve out its niche in the luxury market.

In conclusion, Hermès’s ability to maintain consistently strong performances in the luxury industry has attracted positive ratings and analyses from experts and analysts, who are optimistic about the company’s future outlook.



Read more: Hermès, maker of Birkin and Kelly bags, sees 21% sales growth in 2023