Sales slump for Hermes in H1 2014

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Hermes noted a seven percent dip in its watch business in the first half of 2014, despite recording strong sales in all other sectors.

The company recorded worldwide sales of Euro 1.907billion with strong growth witnessed in Europe (+7%), Japan (+11%), America (+13%) and Asia (+17%).

And while leather goods (+13%), ready-to-wear (+16%), silks (+11%) and perfumes (+8%) all performed well, watches recorded a 7% drop in sales.

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The slump was attributed to “sales to specialised networks, in an always difficult market, notably China”.

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