Asia Pacific Region'S Main Driving Force For Growth Of Hermes
In the first quarter of fiscal year 2018, sales in the Asia Pacific region increased by 16%.
In May 3rd, France's luxury brand Hermes released its first quarter financial results for fiscal year 2018, showing that sales in Asia, excluding Japan, reached 540 million euros, up 16% over the same period last year.
In the report, Hermes said that the brand performance in Asia Pacific market, apart from Japan, was strong, mainly due to the growth of China's market and the performance of Hongkong's central Prince's store.
As reported in March 31st, Hermes's overall sales increased by 11% to 1 billion 394 million euros compared with the previous year, and led by the Asia Pacific region (excluding the Japanese market).
Among them, sales growth in the Asia Pacific region was 16%, the US market grew by 9% over the same period, and the European market continued to warm up, with sales increasing by 7% over the same period last year.
In the 2017 earnings report, AxelDumas, chief executive of Hermes, said that as Chinese consumers re purchase luxury goods, the sales growth of brands in the mainland of China is accelerating, and the Asia Pacific region has become the largest market of Hermes in the world.
In the previous fiscal year, Hermes has seen a slowdown in its performance.
From the first quarter of fiscal year 2017 to the four quarter, sales growth in the Asia Pacific region was 16.1%, 12.4%, 12.4% and 5.1%, respectively, and sales growth was significantly reduced.
In early April this year, Hermes added new Manufacture del 'Allan in France.
At the same time, the company said in a quarterly report in fiscal year 2018 that Guyenne and Montereau two leather factory projects are now under construction and are expected to be completed in 2020.
In addition, in order to promote the growth of performance, Hermes has accelerated the layout of the electricity supplier, and its "up and down" brand has launched the WeChat Mini program recently and provided online purchase business.
Hermes opened the first time shop in WeChat in October last year. Before the release of men's wear in spring and summer April, 2018, it launched online interactive games on WeChat's Mini program.
At the same time, the brand launches new websites in Canada and the United States to mark the price of products.
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