February 8, 2019 / 7:09 AM / 4 months ago

Birkin maker Hermes says momentum in Chinese stores unchanged

PARIS, Feb 8 (Reuters) - French luxury handbag label Hermes said on Friday that sales momentum in its Chinese stores stayed strong in the fourth quarter, adding to reassuring signals from rivals over enduring demand in one of the industry’s biggest markets.

Hermes, whose $10,000-plus Birkin bags are famed for drawing waiting lists, reported a 9.6 percent rise in sales at constant exchange rates across all regions in the October to December period, unchanged from a quarter earlier.

Fourth quarter revenues were up 10.1 percent on a reported basis to 1.7 billion euros ($1.93 billion).

“We are still growing strongly in Asia, we did not see any change in momentum in our stores in China,” Chief Executive Axel Dumas told journalists. (Reporting by Sarah White and Pascale Denis, Editing by Leigh Thomas)

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