Luxury group Hermès is well there in the first quarter. But the company wants to pass on the costs for the new US tariffs as far as possible.
The French luxury group Hermès wants to pass on the costs for the new US tariffs to its customers. “We will fully compensate for the effects of the new taxes,” said CFO Eric du Halgouet at a telephone conference with journalists.
The manufacturer of products such as Birkin and Kelly bags significantly increased sales in the first three months of the year compared to the previous year. It increased by 8.5 percent to 4.13 billion euros. Nevertheless, the group remained behind the expectations of the experts. The business was disappointing, especially in Asia and the Pacific region, the most important market of the group. The reason for this is problems in China.
Source: Stern
