Latest news with #HermèsInternationalSCA
Business of Fashion
3 days ago
- Entertainment
- Business of Fashion
Sotheby's to Auction Original Hermès Bag That Belonged to Jane Birkin
Sotheby's will soon auction the original Hermès Birkin bag that once belonged to the late singer Jane Birkin, one of the most coveted designs in the fashion industry. The famed black leather handbag will be put up for sale in Paris on July 10, the auction house said in a statement Thursday. The original Birkin was commissioned in 1984 exclusively for and in collaboration with Jane Birkin by Hermès International SCA's then Chief Executive Officer Jean-Louis Dumas. Birkin recalled in interviews how she bumped into Dumas on a flight and complained about the lack of an Hermès handbag that suited her needs. The British-French singer retold how she sketched a model on a 'vomit bag' and shortly after Dumas presented her with the original Birkin which the brand commercialised under her name. Jane Birkin sold her bag in 1994 to raise funds for an AIDS charity. It was auctioned again in 2000, and has since belonged to the collector who goes by the name 'Catherine B' on Instagram. Her account biography on the platform says she's the 'proud owner of the first Hermès Birkin bag.' A Sotheby's representative confirmed that the collector is the seller. Hermès bags often fetch higher prices at resale than they cost in boutiques due to long waiting lists. The record for a bag sold at auction is held by an Hermès Kelly known as Himalaya, made in crocodile skin and carrying a diamond, which fetched 4 million Hong Kong dollars in 2021 ($510,000) when it was auctioned by Christie's. ByAngelina Rascouet Learn more: Hermès Responds to 'Walmart Birkin', Dupe Culture CEO Axel Dumas called fakes 'detestable' while acknowledging the grey area surrounding many copycat products.
Bloomberg
17-04-2025
- Business
- Bloomberg
Stock Movers: Hermès, Siemens, Sainsbury
On this episode of Stock Movers: - Hermès' sales at the start of the year were hurt by a slowdown in Chinese demand, showing that even the most resilient purveyor of high-end goods wasn't spared the slump in the luxury industry there. First-quarter sales in Asia Pacific excluding Japan rose 1.2% at constant exchange rates, Hermès International SCA said in a statement Thursday, below the 4% gain analysts had expected. Total sales in the period reached €4.1 billion ($4.7 billion), with the 7.2% growth falling slightly shy of analysts' estimates. Shares slid as much as 4.2% in early Paris trading. - Siemens Energy AG shares surged after the company substantially raised its revenue and net income outlook for the fiscal year, citing demand for gas turbines, gas services and electricity products. The German manufacturer expects comparable revenue to grow as much as 15% this fiscal year through September, up from as much as 10% previously, the company said in a Wednesday pre-releasing quarterly earnings. Net income will rise to as much as €1 billion, up from a previous about break-even guidance. - J Sainsbury Plc expects profits to be little changed this year as higher costs and intense competition put pressure on supermarket groups. Britain's second-largest grocer forecast underlying operating profit from retail of about £1 billion ($1.3 billion), around the same level as last year. It's the first time Sainsbury's has reached that mark, although its Argos brand weighed on the performance.
Bloomberg
17-04-2025
- Business
- Bloomberg
Hermès Quarterly Sales Hurt by Weakness in Chinese Luxury Demand
By Hermès' sales at the start of the year were hurt by a slowdown in Chinese demand, showing that even the most resilient purveyor of high-end goods wasn't spared the slump in the luxury industry there. First-quarter sales in Asia Pacific excluding Japan rose 1.2% at constant exchange rates, Hermès International SCA said in a statement Thursday, below the 4% gain analysts had expected. Overall, Hermès' revenue in the period was slightly shy of analyst estimates.
Bloomberg
15-04-2025
- Business
- Bloomberg
Hermès Market Value Surpasses LVMH, Which Once Tried to Buy It
Hermès's market capitalization surpassed that of rival LVMH, the conglomerate which once tried to buy the maker of the coveted Birkin bag in a stealth raid that shocked the French corporate world 15 years ago. Hermès International SCA's valuation reached €243.65 billion ($276.3 billion) on Tuesday, briefly crossing the €243.44 billion of LVMH Moët Hennessy Louis Vuitton SE and catapulting it into the most valuable company on France's benchmark CAC40 index.
Bloomberg
14-02-2025
- Business
- Bloomberg
Hermès Crosses €300 Billion Market Value, Edging Closer to LVMH
Hermès crossed the €300 billion level in market value on Friday, allowing the maker of the famed Birkin bag to inch closer to its luxury industry arch-rival LVMH. Shares of Hermès International SCA hit a record after it posted estimate-beating results in the fourth quarter, valuing it at about €307 billion ($322 billion) as of 9:24 a.m in Paris. The move comes less than two years after the company surpassed the €200 billion mark in April 2023.
