PARIS – Signaling luxury's strong resilience in an uncertain economy, PPR said net profits in the first half catapulted 140.9 percent, largely due to a capital gain on the sale of YSL Beaute, but also reflecting a "very satisfactory level of profitability in luxury goods."
Hermes said it planed to continue investing in its retail network,emboldened by robust sales of silk scarves, leather goods and perfumes that lifted first-half sales 12.8 percent to 813.2 million euros, or $1.24 billion. At PPR, its group share of net income amounted to 779 million euros, or $1.19 billion, versus 323 million euros, or $494.4 million, a year ago.
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)