Chinese demand for delicately made £400 silk scarves has helped French luxury group Hermès offset disappointing sales growth of its handbags and watches.
First-quarter sales of €856.8 million (£733 million) were 10.3% up on the same period a year ago at the Paris-based über-luxury brand with Asia, excluding Japan, showing a 17% rise.
Last year was the group’s most profitable and today’s numbers have allayed fears that demand in the Far East has faltered.
Recently expanded lines of clothes and scarves helped increase sales by 18% and 15% respectively for the period — overshadowing its leather goods business which reported just 7% growth.
However, sales of watches slumped 5% — “adversely affected by a slowdown in the Chinese market” — which will be a cause for concern for other watch-makers.
