Hermes International, the French fashion accessories and apparel manufacturer, reported that its sales grew 54.0% year-over year to EUR6.6 billion during the third quarter of FY21 ending on September 30, 2021. This is up 35.3% from the Q3 of FY19. The Q3 performance was boosted by a rise in sales in Europe and America, as well as a strong dynamic in Asia.
The performance of the third-quarter reflects an unusual year in which we have continued our strategic investments while accelerating job creation. The balance between the sixteen metiers, and our global locations, allows us, in an unstable world, to continue to create beautiful, high-quality, sustainable products.
Asia, excluding Japan, saw sales grow by 61.7% to EUR3.2 billion ($2.0 billion), benefiting from an impressive performance in China, and other countries. This was despite the new restrictions imposed in Australia, Thailand, and Malaysia during Q3. Sales in America increased by 74.9 percent to EUR1.0 billion. Sales from Europe grew 42.2% to EUR1.5 billion ($1.0 billion), boosted by the local support, the growth of online sales, and a partial return of tourists.
The third quarter saw positive growth across all business sectors. The sales of ready-to wear and accessories grew by 71.2 percent to EUR1.6 billion ($0.9 billion), and silk and textiles increased by 59.7 percent to EUR432.8 (EUR271.0). According to the company, the women’s spring/summer 2022 collection, which was unveiled in early October, featured a solar collection featuring aerial silhouettes. The men’s collection, shown in early July, revolved around a real-time artistic performance. Leather goods and saddlery sales increased by 42,4% to EUR3,0 billion (EUR2.1billion).
Our highly integrated model of craftsmanship and balanced distribution, along with the creativity and loyalty of our collections, gives us confidence for the future. The group’s outlook stated that despite economic, geopolitical, and monetary uncertainty around the globe, the medium-term goal is to grow revenue at constant exchange rates.
