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Hermes posts record sales of Birkin bags


Handbag maker Birkin Hermes reports first-quarter sales growth of 23%, better than market expectations, as wealthy shoppers in China and Europe intensified spending despite higher prices and global market turmoil, according to Reuters. Sales for the quarter amounted to 3.38 billion euros ($3.74 billion). The company notes an increase in store traffic in the US and no slowdown in macroeconomic trends. In the US, sales grew by 19%, well ahead of rival LVMH. Hermes raised prices by 7% at the beginning of the year, above the usual annual increase of 2-3%. In China, revenue grew by 23%, and the Asia region, excluding Japan, accounts for almost half of the group's annual sales.

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Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
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