Demand for luxury goods has boosted sales at Hermes.
The French company said sales in the first three months of the year were 23 per cent higher than in the same period of 2022 as affluent customers splashed out on products such as colourful scarves and Birkin bags – which can cost £70,000.
The bumper figures came just days after rival LVMH – whose brands include everything from Christian Dior and Dom Perignon – reported a 17 per cent rise in sales.
Demand: Affluent customers splashed out on products such as colourful scarves (pictured) and Birkin bags – which can cost £70,000
By contrast, UK fashion retailers are faring less well, with Superdry and Dr Martens issuing profit warnings yesterday.
Superdry said February and March sales ‘have not met our expectations’ as the cold weather hit demand for spring and summer clothing.
Dr Martens issued a third profit warning in five months. Profit for the year to the end of March was around £245m, down from hopes of up to £260m.
Superdry shares fell 16.7 per cent but Dr Martens rose 10.5 per cent on news that shipments from a Los Angeles warehouse have returned to normal after a bottleneck.
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