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Designer Berluti Reveals Opening Ceremony Tuxedo for French Athletes

An employee shows the Paris 2024 - Berluti label sewn inside the suit jacket for the French team athletes for the opening ceremony by LVMH's upscale menswear label Berluti, in a showroom at Berluti headquarters in Paris, France, April 10, 2024. REUTERS/Stephanie Lecocq
An employee shows the Paris 2024 - Berluti label sewn inside the suit jacket for the French team athletes for the opening ceremony by LVMH's upscale menswear label Berluti, in a showroom at Berluti headquarters in Paris, France, April 10, 2024. REUTERS/Stephanie Lecocq
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Designer Berluti Reveals Opening Ceremony Tuxedo for French Athletes

An employee shows the Paris 2024 - Berluti label sewn inside the suit jacket for the French team athletes for the opening ceremony by LVMH's upscale menswear label Berluti, in a showroom at Berluti headquarters in Paris, France, April 10, 2024. REUTERS/Stephanie Lecocq
An employee shows the Paris 2024 - Berluti label sewn inside the suit jacket for the French team athletes for the opening ceremony by LVMH's upscale menswear label Berluti, in a showroom at Berluti headquarters in Paris, France, April 10, 2024. REUTERS/Stephanie Lecocq

LVMH-owned menswear brand Berluti unveiled navy wool suits with colored silk lapels for France's Olympic athletes' opening ceremony outfits on Tuesday.
LVMH, a sponsor of the Paris 2024 games, said the "tuxedo-inspired outfit" reflected Berluti's identity, using "noble materials and patina effects" for an elegant, French look.
The jacket lapels have a red and blue motif inspired by the French flag and the brand's signature color-infused patina leather shoes. The women's jackets have cut-away sleeves.
Berluti was founded in Paris in 1895 by a young Italian shoemaker. The French athletes will also wear Berluti trainers or leather loafers.

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Hermes 2Q Sales Rise 13% on Continued Appetite for High-End Luxury

People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
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Hermes 2Q Sales Rise 13% on Continued Appetite for High-End Luxury

People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)

Birkin-bag maker Hermes reported a 13% rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back.

Sales at the French luxury group grew to 3.7 billion euros ($4.02 billion), a 13% organic sales rise that strips out currency fluctuations. The figure was in line with analyst expectations, according to a Visible Alpha consensus.

Operating profit for the first half was 3.1 billion euros, compared to a forecast from consensus provider Visible Alpha for 3.2 billion.

One of the most steady performers in the luxury goods sector -- even as economic conditions worsen -- the French group's results stand out after a string of disappointing earnings updates from peers which have raised investor concern about uncertain prospects for the sector in the coming months.

Hermes' famously classic designs and tight management of production and stock have helped reinforce the label's aura of exclusivity, and CEO Axel Dumas told reporters the company had seen "no big interruption in trends".

However, he said Hermes was seeing slightly less traffic with aspirational clients, which was impacting higher volume products like fashion accessories.