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Hermès reports 22% jump in sales in H1 of 2011
Posted On: 01-09-2011 00:00:00 11

Unaffected by the gloomy economy that is plummeting sales across regular retail outlets, the sales at the French luxury brand Hermès grew by 22% to €1.31billion, in the first half (H1) of the 2011, ending June 30.

Hermès’ profits soared 50% in the same period, to € 291 million (£ 257 million).

The demand for its overpriced products has gone up many folds, due to which the Company has hired 400 new employees to increase production.

This year, Hermès shares climbed 69% post the LVMH group’s acquisition of a 21% stake. The Hermès family, which controls 62% of the group's shares, was opposed to Bernard Arnault’s LVMH acquisition of its stake.

 
 
 

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