French luxury house Hermès has revealed that its global revenues for the first quarter of 2022 totalled US$3.02bn, up 33 per cent at current exchange rates, and 27 per cent at constant exchange rates.
The Paris-based company said total sales accelerated in group stores with a 28 per cent increase compared to 2021, with all geographical areas posting strong growth for the quarter ending on 31 March.
By region, Hermès Asia (excluding Japan) revenues lifted 20 per cent, benefitting from a “very good Chinese New Year and from sustained activity, especially in Thailand, Singapore, and Australia.” The positivity was partially offset by Greater China, which has been penalised by new health restrictions and some store closures, particularly in Shanghai and Shenyang.
Elsewhere, Japan registered a 17 per cent uptick in sales, pursuing “its sustained increase, which relied on the loyalty of local customers and the success of the collections,” Hermès said in a press release.
During the quarter, Hermés said it reopened its Pacific Place store in Hong Kong and One Central location in Macau in January and February, respectively, and opened a new store in Zhengzhou at the end of March, the first store for Hermès in the Chinese province of Henan. In March, the HermèsFit event was also held in Bangkok, Thailand, around fashion accessories on the theme of sport, after New York and Paris.
