Luxury goods seller Hermès International on Tuesday said its sales continued to grow in the third quarter, on the back of “sustained momentum in Asia and in the Americas,” despite fears around a slowdown in the wider luxury sector.
Shares in Hermès RMS, +1.90% increased 3% in trading on Tuesday morning, with stock in the firm having risen by 34% over the past 12 months. Shares in luxury goods sellers dropped earlier this month after LMVH Moët Hennessy Louis Vuitton MC, +0.87% posted underwhelming results. The Parisian firm’s results are set to assuage investors’ fears about a downturn in the market for luxury goods, amid concerns about the health of China’s economy and signs the boom in demand for jewelry and expensive handbags may soon be coming to an end.