HERMES ’96 SALES UP 9.3%
PARIS — Hermes International reported Thursday that 1996 consolidated sales rose 9.3 percent to $735.1 million (4.18 billion francs) at current exchange.
At constant exchange rates, sales would have risen 11.3 percent, the company said. It gave no indication of profits, which will be reported later.
Hermes said that despite the unfavorable currency fluctuations last year, most particularly with the yen, the company saw growth in all divisions, except for silk goods, whose sales remained “practically stable” with a decline of 1 percent.
By region, the firm said, sales in France rose 3 percent last year; in Japan, they were up 25 percent at constant exchange, and in the rest of the Asia-Pacific area, where three new boutiques were open — in Hong Kong, Singapore and Taiwan — in 1996, sales gained 11 percent.
In the U.S., sales were up 9 percent last year, and in Europe, up 10 percent. New boutiques in Europe and Glasgow were opened in 1996, and in all the firm opened nine boutiques abroad last year.
Turning to product sales, the firm said perfume sales gain 15 percent, due in large part to the rollout of its fragrance 24, Faubourg in the U.S. and Asia last year.
Men’s and women’s apparel sales rose 23 percent at constant exchange, and leather goods sales rose 17 percent. Hermes said it intends to increase its leather goods manufacturing capacity this year.
In watches, sales grew 18 percent; John Lobb shoe sales climbed 23 percent, and the Hermes tableware line rose 4 percent last year.