PARIS (Reuters) -Birkin bag maker Hermes outpaced rivals with a 9% rise in quarterly sales, showing the continued appetite from rich shoppers for its coveted, $10,000 handbags.
The company said it raised prices by 7% globally this year, and by an additional 5% in the United States, where Hermes said it would fully pass on the effects of tariffs to its clients.
Speaking to journalists on a call, Hermes executive chairman Axel Dumas said these price rises would probably suffice to offset the 15% tariff rate agreed between the Trump administration and the EU.
Sales for the second quarter to the end of June reached 3.9 billion euros ($4.50 billion), up 9% at constant rates, Hermes said on Thursday, broadly in line with analyst expectations for a 10% rise, according to a Visible Alpha consensus cited by UBS.
($1 = 0.8657 euros)
(Reporting by Tassilo Hummel, editing by Mimosa Spencer)
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