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May 12, 2006
Hermès Gets Boost From Bags
First-quarter sales at Hermès rose 11.3 percent to $435 million, boosted by sales of leather handbags and wholesale orders for Jean Paul Gaultier’s ready-to-wear collection.
The results landed a bit below expectations, however, due to production problems in watches and ready-to-wear.
While sales of the French brand’s signature leather handbags were strong, overall sales in the handbag category were marred by the discontinuation of a canvas line, the company said. Hermès decided to cutout the canvas collection for fears that it would make its brand look like it was moving down market.
Posted by Blacks on May 12, 2006 09:20 AM
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