(Reuters) Luxury handbag specialist Hermes on Wednesday said comparable sales in the third quarter rose 11.3% from a year earlier, with revenues picking up in its smaller perfumes and scarves units while demand from Asia stayed strong.
The French label, famed for its $10,000-plus Kelly and Birkin bags and squared silk scarves, said revenues stood at €1.34bn euros ($1.55bn) in the July to September period, a 6.4% rise year-on-year on a reported basis.
As year-ago comparables become tougher with a rebound in demand from Chinese consumers in full swing, analysts had forecast that revenue growth would be more muted.
They had expected sales to rise by around 8.5% on a like-for-like basis, which strips out currency fluctuations, after an 8.3% increase in the second quarter.
Sales growth in Asia, Hermes’ biggest region by revenues, was stable from one quarter to the next, while demand picked up in Europe and in the Americas.
Shares in Hermes rose in early trade in Paris, up 0.78% at €445.65.