Reuters reports that the French Hermes Group's fourth-quarter results significantly exceeded analysts' expectations. They showed strong demand from wealthy consumers for the most expensive products, including Birkin bags, which cost more than $10,000.
Hermes reported sales of 3.96 billion euros in the fourth quarter, an 18% increase. Sales accelerated towards the end of the year, with the most significant growth recorded in the Americas and Japan.
Hermes continues to outperform rivals such as LVMH and Gucci.
Hermes shares have risen by a quarter in the past 12 months. Its market capitalization, now at around 297 billion euros ($311.11 billion), is approaching the market value of luxury rival LVMH.
