The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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.
In her first ever podcast interview, the actress, filmmaker and humanitarian joins BoF founder and editor-in-chief Imran Amed to discuss her vision for her new fashion venture, Atelier Jolie.
Reports of financial strain at Farfetch amid a stalled deal with YNAP has driven confidence in multi-brand e-commerce to all-time lows. With value propositions eroding and investment drying up, a way forward remains unclear.
The share price of the group, which has seen frequent turnover in executives and creative talent, has fallen by 68 percent from its debut.
Once vulnerable to predators as complacent family members got involved in other endeavours, Hermès’ success has provided the group its best defence.