Sales at Hermes rose strongly over the summer as it defied the recent gloom in the luxury market – but there was no such luck for Gucci owner Kering.
Hermes, known for the Birkin bag as well as its silk scarves and ties, said revenues rose 15.6pc to £3bn in the three months to the end of September.
Pretty in pink: Supermodel Heidi Klum with her Birkin Bag
Business was driven by wealthy Americans snapping up luxury products despite concerns over the health of the global economy.
But Kering, which owns Yves Saint Laurent, Balenciaga and Bottega Veneta as well as Gucci, saw sales slide 9pc to £3.9bn.
Gucci, which accounts for over a half of Kering’s annual sales and is in a middle of a revamp following a disappointing performance over the past two years, saw a fall in sales of around 7pc.
While Hermes fared far better than this, its sales growth did slow from the 27.5pc rise seen in the second quarter.
Rival LVMH also saw sales growth slow earlier this month. And British firms Mulberry and Burberry have seen their share price fall recently.
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