Luxury Handbag Demand Remains Strong Amidst Economic Challenges
Hermès, the maker of the iconic Birkin bag, reported a 13 percent rise in second-quarter sales on Thursday, reflecting strong demand from wealthy shoppers despite a pullback among less affluent consumers.
The French luxury group’s sales grew to €3.7 billion ($4.02 billion), marking a 13 percent organic sales increase that excludes currency fluctuations. This figure aligns with analyst expectations, according to a Visible Alpha consensus.
Operating profit for the first half of the year was €3.1 billion, slightly below the forecast of €3.2 billion from Visible Alpha.