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Asharq Al-Awsat

Lifestyle

Asharq Al-Awsat

Hermes Beats Forecasts on Robust Growth in China, US

Hermes Axel Dumas China Luxury Covid-19 United States Lunar New Year New York

This file photograph taken on December 20, 2017, shows the logo of the French fashion house and luxury goods manufacturer Hermes, in the fashionable and luxurious street "Rue du Faubourg Saint-Honore" in Paris. (AFP)

Birkin bagmaker Hermes said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from rising COVID infections, helping it beat sales and margin forecasts.

Hermes also saw strong demand from Chinese clients across products during the Lunar New Year, Executive Chairman Axel Dumas said on Friday, adding that the company was looking at 2023 with confidence.

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