Fashion Hermes

HERMES International experienced an 8.6 per cent rise in sales in 2009, following strong Christmas trading in its fourth quarter of business.

According to WWD, healthy business across all regions – excluding Japan – contributed to this increase which saw sales in the fourth quarter rise to 587.3 million euros compared to 540.9 million euros in the same period the previous year. The luxury fashion label has plans to open 12 new stores in 2010, following the addition of 14 last year. Meanwhile, LVMH has reported a 13 per cent slide in its net profits, but a record level of revenues in December.

“This trend is continuing and growing in January for the group as a whole,” said LVMH chairman and chief executive officer Bernard Arnault, noting the future of the current business climate as being “difficult to predict”.LVMH cited the destocking of Champagne, watches and jewellery as factors for the knock in its fortune but noted strengths in emerging markets and Europe. The company said its objective for 2010 is “leadership of the global luxury goods industry”.

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