“We have not seen any inflexion of any kind in our sales.” Hermès chief executive Patrick Thomas told Reuters on Sunday: “Therefore our targets for the year remain unchanged.”
With the global luxury market becoming increasingly polarised, healthy sales and a strong presence in emerging markets have shown Hermès to be resilient against deteriorating trading conditions elsewhere. As an economic slowdown in China rocks many premium brands’ reliance on the country, Thomas told Reuters that Hermès is ready to move with the times of the world’s developing luxury markets.
"Chinese customers are becoming increasingly sophisticated very fast," Thomas said.
"Before, they wanted ostentatious items, now they want quality objects. The future of the luxury market lies in products which demonstrate genuine craftsmanship."
Thomas was speaking to Reuters following the brand's fashion show held in the Jeu de Paume museum in Paris.
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