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Hermès Reports Soaring Sales Of Birkins As Stand-Out Brand Amid Declining Luxury Market

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Hermès on Friday reported a 21% rise in U.S. sales in the first half of the year—a stand-out report amid a luxury market that has depended on Asian buyers more than ever this year as American sales slow.

that 18% of its revenue came from the Americas in the first six months of 2023 and growth in that region gained 21% in the second quarter, significantly more than competitors like LVMH, Gucci owner Kering and Cartier’s Richemont have reported, which have all had faltering U.S. sales this year.

Second-quarter sales were $3.65 billion, up almost 28%, according to the company, and recurring operating income for the first half of the year was $2.9 billion, also up 28% over last year. The company’s luxury handbags are big-time status symbols around the world, and Hermès pointed to four leather products in particular that bolstered its recent sales: The In-The-Loop bag released in December, a spherical bag called the Maximors, the HAC a Dos backpack-style bag released last fall and the highly anticipated Picnic Birkin released in 2021.

The Picnic Birkin, made of Osier Wicker, was sold by Hermès for $21,000 but peaked in resale value last year when prices reached a staggering $148,000, according toAlso credited for increasing revenue were the Un Jardin à Cythère

 

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Hermès Reports Soaring Sales Of Birkins As Stand-Out Brand Amid Declining Luxury MarketThe maker of the famous Birkin bag is one of few fashion houses reporting growth in the Americas as other brands rely on Asian shoppers
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