Hermes hike prices next year
Hermes plans to raise its prices next year ,Miu Miu Wallet partly in response to the rising cost of silk and leather , the French luxury group said Friday it is written beat earnings forecasts in the first half.
Hermes, the manufacturer 6000-30000 € Birkin and Kelly bags is hiking the prices increases from rivals such as Louis Vuitton LVMH and Gucci earlier this year Kering .
Like his colleagues , said Hermes , and the fight against the rising cost of materials , the movement sought to fluctuations in currencies such as the yen against the euro even lower .
Japan accounts for nearly one-fifth of sales for Hermes, the largest in the country on a European manufacturer of luxury risk , dealers such as UBS was .
"You can in fact expect price increases, which , as always, we want to be moderate ," said Axel Dumas , Patrick Thomas will take over as CEO of the company, if the decision of retire next year . Dumas did not give details .
Hermes shares were nearly 3 percent higher at € 255.55 by 1219 GMT , the second biggest winner on the French SBF 120 index in general. SBF 120th
Hermes grew to 14 percent of operating profit in the first half to € 584.1 million , thanks to strong demand for its leather accessories and silk, so that the group has a margin of 33.1 percent.
Hermes was , according to Thomson Reuters expected a profit of € 570 million to write .
Hermes on Friday confirmed the operating margin in 2013 would be close to the 2012 record of 32.1 percent.
The company said it increased sales and profits thanks to higher volumes, which decided not to prices at the beginning of this year reached hike.
"This is a very decent set of results , the management is very encouraging," a Paris-based trader said . "We should not massively revise our numbers, but some tuning to fully understand the direction. "
Last month, Hermes reported a forecast beating 16 percent increase in sales in the second quarter at constant exchange rates due to strong demand for its leather accessories and silk , marking an improvement compared to an increase of 12 8 per cent in the first quarter .
At that time he said he was getting closer to the operating margin reached record levels last year , according to the prediction of a decline.
It provides that the revenue growth for the full year would easily surpass slightly increase the medium-term growth target of 10 percent and an operating income faster than incomes . Louis Vuitton sofia coppola