Sales at Birkin bag maker Hermes rose briskly in the third quarter, beating expectations as the resilience of its wealthy clientele allowed its growth pace to slow only slightly in spite of economic headwinds.
Sales for the three months to the end of September stood at 3.37 billion euros , a 15.6% rise at constant exchange rates, beating a Visible Alpha consensus for 14% growth, with brisk sales in all regions, particularly in the United States.
But Hermes, which caters to shoppers who can afford handbags like the coveted $10,000 plus Birkin model, has a reputation of weathering economic turbulence better than rivals.
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