There were no hurdles for Hermes_Paris as it continued its winning sales streak in the third quarter of 2022.
The brand’s desirability did not dim even in the face of increasing prices. Hermès upped its prices by an average of 3.5 percent in January across divisions, and added another increase of 3 percent to 5 percent for its watches and jewelry in July as a result of the rising cost of gold.
Currency fluctuations boosted revenue by 451 million euros. The company used the extra cash to purchase over 100,000 shares of its stock in a buyback valued at 116 million euros in the first nine months of the year. Sales in Japan were up 22.7 percent, with the company citing the “loyalty of local clients,” as the country maintained strict travel rules for tourists entering the country until Oct. 11.and an outpost in Austin, Tx., sales in the Americas were up 18.1 percent in the third quarter.
Another exceptionally strong category was ready-to-wear and accessories, up 42 percent, with continuing strong momentum in both men’s and women’s categories.
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