Birkin bagmaker Hermes said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from rising COVID infections, helping it beat
Birkin bagmaker Hermes said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from rising COVID infections, helping it beat
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MILAN, Feb 19 (Reuters) - Birkin bag maker Hermes weathered the coronavirus pandemic better than luxury goods rivals, with sales recovering sharply in the final part of 2020 thanks to a strong performance in Asia and soaring online revenues.
The French group said on Friday sales in the October to December period rose by 16% at constant exchange rates - way better than the 8% increase forecast in an analyst consensus cited by UBS.
Shares in the group, which have surged 41% in the past year despite the global health emergency, rose by more than 6% in early trade in Paris on Friday, the top gainer in the blue chip CAC 40 index.