Hermès

New Designer at Hermès (NY Times)
“After seven years, Jean Paul Gaultier is giving up his ready-to-wear duties at Hermès and will be replaced by Christophe Lemaire, who has been designing for Lacoste since 2000. Mr. Gaultier’s move was expected, but the replacement was something of a surprise.”

Hermès reports 1st-quarter sales up 19 percent (Marketwatch)
“Hermès, the French luxury goods maker, reported that first-quarter sales rose 19% to 507.7 million euros. All sectors performed well, with sales growth at the group’s own stores “particularly robust,” up 26% at constant foreign exchange rates, the company said in a Thursday statement.”

Jean-Louis Dumas, Chief of Hermès, Dies at 72 (NY Times)
“Jean-Louis Dumas, who revived the flagging fortunes of Hermès in the late 1970s and in his nearly 30 years as the company’s chief executive transformed it into one of the world’s most successful luxury brands, died Saturday at his home in Paris.”

Louis Vuitton Tops Hermes, Gucci as Most Valuable Luxury Brand (Bloomberg)
“Louis Vuitton, the French fashion brand known for its monogrammed luggage, topped Millward Brown Optimor’s 2010 BrandZ ranking of the most valuable luxury labels for the fifth straight year.”

Hermès takes strategic decision to develop high end jewelry (CPP Luxury)
“French luxury goods firm Hermès has announced that it will be launching a collection of fine jewelry with accessories designer Pierre Hardy. The [collection] was inspired by the shape of a horse’s hoof to keep with the fashion house’s equestrian roots.”


Hermès 2009 Profit Falls as Distributors Trim Inventory (Business Week)
“Hermès International SCA, the French maker of luxury handbags and silk ties, said full-year profit declined as distributors cut inventory.”

What’s Next: Luxury Products (WSJ)
“Pierre-Alexis Dumas embraces innovation. But as the sixth-generation member of his family to lead, in his case, the creative end of the French luxury house Hermès, he must uphold tradition, as well.”

Hermès CEO sees higher taxes hitting luxury (Reuters)
“Governments worldwide will have little choice but to raise taxes on the rich to address ballooning deficits, a development that would harm luxury spending in the coming years, French luxury chain Hermès International chief executive, Patrick Thomas, said.”

Hermès ups its 2009 profit forecast as sales excel (Reuters)
“French luxury group Hermès on Friday raised its own profit expectations for 2009 after posting forecast-beating full-year sales on the back of strong Christmas trading.”

What Hermès’ New Chinese Brand Means for the Luxury Industry (Fashionista)
“Three days before Christmas, the savvy folks over at godly luxury company Hermès quietly announced that they would launch a new brand in China called Shang Xia. The label will incorporate Chinese raw materials and local craftsmanship tailored to the specific desires of the Chinese luxury consumer.”

Asia boosts Hermès luxury sales (AFP)
“Sales in Asia helped boost French luxury group Hermès in the third quarter, the company said on Friday, reporting an overall 10-percent rise in sales to 452 million euros (672 million dollars).”

Luxury goods industry on track for recovery (FT)
“The luxury goods industry will return to growth next year while the decline in 2009 will be less severe than expected thanks to strong sales in Asia, especially China, according to a study published on Monday.”

Hermès Chief Thomas Says China Booming, U.S. Market Positive (Bloomberg)
“Hermès International SCA Chief Executive Officer Patrick Thomas said the French luxury-goods brand’s sales are “booming” in China and elsewhere in Asia, while the U.S. market is ‘slightly positive.’”

Hermès CEO Sees No Light in ‘Tunnel’ This Year on Japan Slump (Bloomberg)
“Hermès International SCA Chief Executive Officer Patrick Thomas said he isn’t optimistic about the next six months because of a delayed economic recovery in Japan, the French luxury-goods maker’s biggest market.”

Hermès profits below expectations (Financial Times)
“French luxury group Hermès on Friday posted first-half profits below market expectations, hit in part by lower revenues from its financial investments and slower growth in certain markets.”