Hermès Comfortably Passes $5 Billion In First Quarter [Forbes]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Forbes
3% contraction (both at constant currency). And despite Trump's changing tariffs threats, the French scarves to leather handbags house is looking at further robust growth this year. Consolidated revenue figures at Hermès, released today , hit €4.1 billion ($5.3 billion) for the first three months of the year. Whereas LVMH, owned by billionaire Bernard Arnault, did not see growth in any of its divisions leading to its share price plunging earlier this week, almost all of Hermès big revenue-driving segments achieved solid Q1 growth. The family-controlled luxury goods company, famous for its timeless Birkin and Kelly bags, was steered by its two biggest divisions, leather goods/saddlery and ready-to-wear/accessories, which surged by 10% and 7.2% respectively. The two divisions accounted for almost 72% of Hermès revenue in the first quarter and a big driver was demand for the new Médor and Mousqueton bag models. The much smaller segments of jewelry and Hermès home products (grouped
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