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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

Production Caps Curb Growth at Handbag Maker Hermes

Hermes United States Axel Dumas Birkin
Residents, wearing protective face masks, walk past a Hermes store in Paris, France, April 24, 2020. (Reuters)

French luxury group Hermes said sales grew by 11% in the fourth quarter of 2021, a touch below market expectations, as self-imposed production caps meant the group could not keep up with demand for its prized handbags.

The slowdown in growth from previous quarters, in contrast with an acceleration at other luxury groups, pushed the company's shares down 6.8% in early Friday trade.

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