Luxury goods group Hermès grows less than expected

The French luxury group Hermès continued to grow in the first quarter. However, the manufacturer of products such as Birkin and Kelly bags remained behind the expectations.

In the first three months of the year, sales increased by 8.5 percent to 4.13 billion euros, such as the EuroStoxx-50 heavyweight announced in Paris on Thursday. Adjusted for currency effects, growth was 7.2 percent. Expert interviewed by Bloomberg: Inside, an increase of 7.9 percent had expected an increase.

The business was disappointing, especially in Asia and the Pacific region, the most important market of the group. According to LVMH, Hermès is the second great luxury goods manufacturer, which failed to expect the analyst’s expectations.

Hermès and LVMH are among the most valuable companies in Europe with a stock market value of around 250 billion euros and 243 billion euros.