Bloomberg News

Hermes Reinforces Luxury Outlook After ‘Fantastic’ End to 2012

January 20, 2013

Hermes International SCA Chief Executive Officer Patrick Thomas said the company had a “fantastic” end to 2012, echoing rival Salvatore Ferragamo SpA and suggesting demand for luxury leather goods remains strong.

Last year was “very good,” Thomas said late yesterday before the Paris-based company men’s fashion show in the French capital. Thomas also said that he will retire in January 2014.

Hermes, whose Birkin handbags sell for prices starting at about 5,500 euros ($7,300), raised its target for 2012 revenue growth to more than 13 percent because of surging demand in Asia. Ferragamo CEO Michele Norsa said Jan. 13 that he was “positive” for 2013 after sales at the Florence, Italy-based shoemaker showed a “positive trend” in the fourth quarter.

To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net


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