French luxury group Hermès have reported that consolidated revenues reached €3.38bn in the first quarter of 2023.
Hermès Asia excluding Japan revenues surged 23 per cent, driven by a “very good” Chinese New Year, which saw strong momentum in Greater China. In January, the company’s Nanjing store, in China’s Jiangsu province, also reopened at a new address after renovation and extension. Other markets performing well in Asia included Singapore, Thailand, and Australia, said Hermès.
Japan recorded sustained growth, up 26 per cent, based on the loyalty of local customers, said the company. A region highlight during the quarter was the men’s Spring/Summer 2023 collection, celebrated in March with an event held in Tokyo Bay.
