Hermès Reports 17% Sales Increase in Q1 2024, Defying Luxury Slowdown

Hermès on Thursday shared its financial report for Q1 2024, revealing that it surpassed analyst expectations with a 17% increase in sales to reach €3.8 billion EUR in the three-month period.Defying the global slowdown of luxury sales, the Birkin brand earned double-digit growth across all regions. In the Asia Pacific market, excluding Japan, the company saw a 14% increase, where its "value strategy" was able to offset "softer traffic" in Greater China following the Chinese New Year. Eric du H...