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Hermes defy the economic climate with increased profits and sales Friday, 23rd March 2012
Photo Credit: Hermes Spring/Summer 2012 Ad Campaign
The BBC have reported that despite the economic gloom, French fashion house Hermes have announced a raise in sales and profits.
The firm, renowned for its Birkin bags and scarfs, have said that net profits increased 41 per cent to £495 million in 2011 from a year ago. Its shares in Paris also rose 2.7 per cent.
The fashion house, which was founded in 1837 and is still run by the family, was recently subject to an uncomfortable takeover battle with LVMH, which resulted in losing 22 per cent to the luxury brand conglomerate.
Hermes chief executive Patrick Thomas told French Radio: "I don't say that it's a bad decision, but it's also my job to protect this house."
With the influx in custom, Hermes now plans to open two more leather factories in France to cope with the demand.
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Posted in Accessories News, Fashion News, Luxury Goods, Retail Industry Tagged BBC, Hermes, LVMH, Patrick Thomas
