Hermes taps China demand to reach €1.26bn revenue

Recovery in luxury-goods industry gained pace after handbag maker Hermes International joined LVMH and Gucci parent Kering in saying the Chinese market is improving and pointed to growth in leather goods like its iconic Birkin bag.

Revenue climbed to €1.26bn, said Paris-based Hermes yesterday. Sales climbed 8.8% excluding currency swings, led by 14% growth in Asia Pacific, the fastest rate in more than two years.

The shares rose as much as 2.4% in Paris.