Hermes boosted by Chinese shoppers

CHINESE shoppers’ yearning for luxury goods helped drive a 16pc rise in sales at Hermes in the first quarter.

The high-end French brand said revenue rose to £1.4bn in the three months to the end of March.

This was boosted by a 17pc rise in sales in Asia, excluding Japan, and 10pc growth in mainland China, which more than made up for a slowdown in its home market.

The strong demand from Asian buyers should quell fears of a slowdown in China – the world’s biggest luxury market – and adds to similar trends reported by Hermes’ rivals in the sector, LVMH and Kering.

Hermes blamed disruption caused by anti- government yellow-vest protests for a 1pc rise in sales in France, the slowest growth of any region.

Turnover in its leather goods division – which makes its famed Birkin handbag ( pictured) and is responsible for around half its sales – grew by 17pc to £700m.