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Hermes Sales Rise 15.6%, Defying Luxury Downturn as US Posts Strong Growth

A model presents creations by designer Veronique Nichanian as part of her Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Hermes during Men's Fashion Week in Paris, France, June 24, 2023. REUTERS/Gonzalo Fuentes
A model presents creations by designer Veronique Nichanian as part of her Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Hermes during Men's Fashion Week in Paris, France, June 24, 2023. REUTERS/Gonzalo Fuentes
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Hermes Sales Rise 15.6%, Defying Luxury Downturn as US Posts Strong Growth

A model presents creations by designer Veronique Nichanian as part of her Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Hermes during Men's Fashion Week in Paris, France, June 24, 2023. REUTERS/Gonzalo Fuentes
A model presents creations by designer Veronique Nichanian as part of her Menswear ready-to-wear Spring/Summer 2024 collection show for fashion house Hermes during Men's Fashion Week in Paris, France, June 24, 2023. REUTERS/Gonzalo Fuentes

Third quarter sales at Birkin bag maker Hermes rose briskly, up 15.6% year-on-year, with the pace of growth slowing only slightly in a show of resilience of its wealthy clientele in spite of economic headwinds.
Sales for the three months to the end of September stood at 3.37 billion euros ($3.60 billion), a 15.6% rise at constant exchange rates, beating a Visible Alpha consensus for 14% growth, with brisk sales in all regions, particularly in the United States, said Reuters.
Analysts have lowered their estimates for the luxury sector in recent weeks, following a sales report from bellwether LVMH earlier this month showing shoppers are splurging less on high end fashion as inflation and economic uncertainty rise.
But Hermes, which caters to shoppers who can afford handbags like the coveted $10,000 plus Birkin model, has a reputation of weathering economic turbulence better than rivals.

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Fashion

Ruffles, Biker Leather and Celebs at Louis Vuitton's New York Show

Models present creations by designer Nicolas Ghesquiere during the Louis Vuitton Cruise 2027 collection show in New York City, US, May 20, 2026. REUTERS/Jeenah Moon
Models present creations by designer Nicolas Ghesquiere during the Louis Vuitton Cruise 2027 collection show in New York City, US, May 20, 2026. REUTERS/Jeenah Moon
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Ruffles, Biker Leather and Celebs at Louis Vuitton's New York Show

Models present creations by designer Nicolas Ghesquiere during the Louis Vuitton Cruise 2027 collection show in New York City, US, May 20, 2026. REUTERS/Jeenah Moon
Models present creations by designer Nicolas Ghesquiere during the Louis Vuitton Cruise 2027 collection show in New York City, US, May 20, 2026. REUTERS/Jeenah Moon

French fashion house Louis Vuitton combined ruffles, biker leather and the graphic art of Keith Haring for its celebrity-packed cruise 2027 show at a New York museum on Wednesday night.

Under the gaze of Zendaya, Anne Hathaway and Cate Blanchett, Louis Vuitton's artistic director for women's wear Nicolas Ghesquiere presented a collection built on contrasts and bright pops of color, said AFP.

Structured leather jackets were paired with fluffy Medici collars.

Ensembles were punctuated by the Pop Art movement's orange, pink and green, while also giving way to deep purple, dusty pink and teal.

Whether the models donned heels or sneakers, the shoes were metallic, and legs were on display with boxer shorts, biker shorts and tailored Bermuda suits.

Hats -- bucket or brimless -- topped models' heads when hair wasn't left loose and marked with the horizontal streaks popularized by figure skater Alysa Liu, the brand's new ambassador.

The show was held at The Frick Collection, marking the first time a fashion show has been hosted by the museum since its renovation last year.

Formerly the mansion of a steel magnate, the museum teems with an impressive collection of European paintings and art dating back to the Renaissance. Models stalked down the runway, passing under archways and past famed artworks.

"Within the timeless rooms of The Frick Collection, beauty and art transcend time in a quiet dialogue, while beyond its walls, New York City pulses with constant reinvention -- a convergence of contrasts," the fashion house posted on Instagram, with the brand and the museum announcing a three-year patronage partnership.

Notably, Louis Vuitton will fund three temporary major exhibitions and host free visitor after-hours evenings at the museum on the first Fridays of every month for a year.

Europe's major fashion houses have shown exceptional interest in the American market and culture recently.

Louis Vuitton's men's collection by hip hop star Pharrell Williams drew inspiration from the Big Apple, and Gucci and Dior have recently unveiled their cruise collections in New York and Los Angeles, respectively.

In December, Chanel held its show in the New York subway.

Fashion

Coach Owner Tapestry Targets International Markets for 70% of Growth

Recycled Coach bags are displayed at their store on Fifth Avenue in New York City, US, September 9, 2025. (Reuters)
Recycled Coach bags are displayed at their store on Fifth Avenue in New York City, US, September 9, 2025. (Reuters)
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Coach Owner Tapestry Targets International Markets for 70% of Growth

Recycled Coach bags are displayed at their store on Fifth Avenue in New York City, US, September 9, 2025. (Reuters)
Recycled Coach bags are displayed at their store on Fifth Avenue in New York City, US, September 9, 2025. (Reuters)

Tapestry expects ‌about 70% of its growth over the next few years to come from international markets, with the Coach handbag owner's expansion plans focused on China and Europe.

"Our penetration right now is relatively lower in international markets," Tapestry CEO Joanne Crevoiserat told Reuters on Monday.

China accounts for about 15% of the ‌US company's ‌business, but offers significant potential, particularly ‌among ⁠younger consumers.

"There is so ⁠much more potential if we think about the population in China, particularly with young consumers," Crevoiserat said, adding that Tapestry aims to become a first luxury bag purchase, which helps build ⁠long-term brand loyalty.

Tapestry's sales in ‌China had been ‌growing by double digits over the last ‌two years, at a time when ‌the market for handbags actually was weak, she added.

"We see a tremendous opportunity to continue to grow in that market," she said ‌on the sidelines of the Financial Times Business of Luxury Summit ⁠in ⁠Italy, adding that the group is increasing investments in the area.

In Europe, which accounts for around 6% of total sales, Tapestry has shifted its focus away from tourist-driven demand toward younger consumers and local customers.

Asked about potential M&A, Crevoiserat told the event that Tapestry is focused on organic growth, building on momentum at Coach and reigniting growth at Kate Spade.

Fashion

Dr. Martens’ Annual Profit Surges 61% on Cost Cuts and Fewer Discounts

Dr. Martens shoes are displayed inside a shop in Manchester, Britain, May 26, 2023. (Reuters)
Dr. Martens shoes are displayed inside a shop in Manchester, Britain, May 26, 2023. (Reuters)
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Dr. Martens’ Annual Profit Surges 61% on Cost Cuts and Fewer Discounts

Dr. Martens shoes are displayed inside a shop in Manchester, Britain, May 26, 2023. (Reuters)
Dr. Martens shoes are displayed inside a shop in Manchester, Britain, May 26, 2023. (Reuters)

Dr. Martens on Tuesday posted a 61.3% jump in full-year adjusted pre-tax profit, as the British bootmaker began to ‌see results from ‌a tighter ‌control ⁠on costs and fewer ⁠discounts.

The company, known for its iconic lace-up chunky boots, has deliberately pulled ⁠back on clearance ‌activity ‌across its direct-to-consumer and ‌wholesale channels to ‌improve the quality of its sales.

Dr. Martens posted adjusted pre-tax ‌profit of 55 million pounds ($73.78 million) for ⁠the ⁠year ended March 29, up from the 34.1 million pounds posted last year, with shoes being the standout performer.