PARIS — Hermès International said Tuesday it was maintaining its long-term guidance for 10 percent annual growth at constant exchange rates, even though sharp currency fluctuations wiped 40 million euros, or $54.8 million, from its books in the first quarter.
The maker of Kelly bags and silk scarves reported sales rose 10.1 percent in the three months ended March 31, boosted by continued strong growth in Asia and the Americas. When stripping out the impact of exchange-rate variations, this represented an increase of 14.7 percent, beating market expectations.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)