French luxury brand Hermes has seen first half net income surge as the company said sales grew across all geographies and categories.
For the first-half, net income was up 49.5% to $419 million, while sales increased 22% to $1.87 billion.
Operating margin widened 3.7 percentage points to 32%, said Hermes, the “highest level recorded by the group since its IPO” in 1993. Operating income was up 37.3% to $602 million.
The company said that growth was driven by the US and China, with the Americas reporting 34% sales growth, while Asia, excluding Japan, reported 30% growth. In its French home market, sales were up 21%, which it attributed to a new store on rue de Sèvres in Paris, while the rest of Europe enjoyed 20% sales growth.
Sales increased 29% in its silks and textiles division, driven by its “lavish collections” and “persistently high corporate communication expenditure.” Ready-to-wear and accessories reported a 31% sales rise, while leather goods and saddlery saw sales increase 15%.
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