The creator of the famous Birkin bags and one of the most recognized luxury brands in the world Hermès announced on Tuesday that its revenues have doubled, and sales have returned to pre-pandemic levels. These impressive business results in the second quarter of 2021 surprised analysts who had predicted revenue growth, but still lower than the achieved increase of 127% (€2.1 billion). This amount is 33% higher than in the same period in 2019.
Return to the Game
According to Bloomberg, Hermès achieved growth largely due to strong sales of leather goods (bags, wallets, etc.) and ready-to-wear clothing. Quarterly results exceeded pre-pandemic figures from 2019 in all markets except the home French market, where sales are largely reliant on tourism.
This luxury brand is not the only one that has returned to the game after months of lockdown. And it did so in style. Recently, the LVMH group announced that it achieved 40% higher sales than in the same period two years ago, also thanks to customers who decided to celebrate the easing of measures by purchasing premium products such as bags.
There is no doubt, luxury is quite resilient to all strains of Covid-19.
{embed_digitalno_izdanje}{/embed_digitalno_izdanje}
