Luxury giant Hermès said its sales grew by 31% in the third quarter, beating market expectations even as the pace of the rebound from the fallout of the coronavirus pandemic slowed down from the previous three months.
The French label bought in 2018 by Chinese group Icicle is relaunching in Europe. It recently upgraded its website and dropped a new perfume, and has now revamped its long-established Champs-Elysées flagship in Paris.
Firmenich expects continued strong demand for the rest of 2021 after the Swiss maker of scents including Ariana Grande's R.E.M, Calvin Klein's CK One and Yves Saint Laurent Black Opium reported accelerating sales growth.
Hermès had a good first quarter as all of its business lines returned to growth and the company said it saw "a remarkable increase" in ready-to-wear and accessories, as well as watches and other categories.
The association between the Madrid fashion label and the German designer, named creative director to replace Josep Font in 2018, has come to an end, without Huelle’s first collection seeing the light of day.
The label managed to limit its 2020 sales shortfall to 10% and is bolstering its licensing strategy, announcing a new partnership for underwear and swimwear, two key categories, with Italian manufacturer Area B.
LVMH has appointed Chris de Lapuente as its new Chairman and CEO of the luxury conglomerate’s Selective Retailing Division, making him one of the most powerful executives within the giant French luxury conglomerate.