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Hermès Remains Bullish on Greater China

CFO Eric du Halgouet said a 'slight acceleration' on the mainland will offset the impact from protests in Hong Kong.
Hermès Birkin bag | Source: Shutterstock
By
  • Bloomberg

PARIS, France — Hermès International says growth in greater China remains rapid despite months of protests in the luxury shopping hub of Hong Kong.

A “slight acceleration” in mainland China will offset the impact from store closures in Hong Kong, which was most significant in August, Hermès Chief Financial Officer Eric du Halgouet said on a conference call.

“Globally, our performance in greater China has been identical,” he said. “We remain on the same trend.” Hermès shares fell less than 1 percent in Paris trading to €634.80.

Du Halgouet spoke to reporters as Hermès reported first-half operating profit of €1.14 billion ($1.26 billion). Analysts had predicted €1.12 billion.

By Robert Williams; editors: Eric Pfanner and Marthe Fourcade.

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