Wealthy Americans boost sales at Birkin bag maker Hermes
Birkin bag maker Hermes has been making money off wealthy American shoppers who want luxury products despite an economic downturn.
The French company’s turnover rose 27.5 per cent to £2.84 billion in the three months to the end of June, thanks to demand for products such as scarves and Birkin bags, which can cost £70,000.
The results were a surprise as rivals face a slowdown in US consumer spending.
Stylish: British actress Jane Birkin, who recently passed away at the age of 76, was the inspiration behind the signature leather bag
LVMH, which owns Christian Dior and Tiffany, said US customers were not buying expensive goods. But Hermes’ Americas division, which also includes the US, rose 21 percent.
It comes after the Birkin bags recently appeared in And Just Like That, the Sex And The City reboot starring Sarah Jessica Parker.
Hermes chairman Axel Dumas said: “In difficult times there is what you call a flight to quality and we have benefited from that.”
British actress Jane Birkin, who recently passed away at the age of 76, was the inspiration behind the signature leather bag after she complained to the then-boss of Hermes in 1981 that she needed a bigger bag to travel while sitting next to him in a plane sat.