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March 24, 2006
Hermès Profits On Japanese Recovery
Hermès reported a 15% gain in net profit for 2005, thanks to increased demand in Japan, which accounts for roughly 30% of the company’s sales.
The Paris-based firm reported profit of €247 million for the year, coming in slightly lower than analysts’ expectations.
While Hermès is making gains, it is not growing as fast as rival Louis Vuitton, which reported a 21% rise in earnings for 2005.
Hermès will have to be diligent about increasing sales in product categories outside of its already popular handbag business if it wants to keep up with competitors who are planning their own Asian invasion.
Posted by Blacks on March 24, 2006 09:01 AM
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