High-end handbag maker Hermès rebounds as online sales surge
Luxury retailers were hit hard by the pandemic lockdown, but even the iconic maker of Birkin bags allows that online is now their ‘biggest store’
22 October 2020 - 11:52
Paris — Hermès’s comparable sales picked up in the third quarter, rising 7%, and the Birkin bag maker said this positive momentum has extended into October after a rebound in Asia and other regions as some coronavirus restrictions eased.
Luxury goods manufacturers were hit hard by store closures during lockdowns to combat the pandemic and sales for the industry as a whole are expected to fall by up to 35% in 2020 — an unprecedented plunge after a decade of stellar growth...
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