HERMÈS INTL.: 2019 sales growth slightly revised up | NEUTRAL | EUR565 vs. EUR555 (-11%)
HERMÈS INTL. - NEUTRAL | EUR565 vs. EUR555 (-11%)2019 sales growth slightly revised up
Acceleration in APAC in Q3
Leather goods business, but not only...
2019 sales growth slight revised up!
FV from EUR555 to EUR565
Hermes International is engaged in the manufacture, sale, and distribution of luxury goods primarily in France, rest of Europe, Japan, Asia-Pacific, and Americas. Co.'s activities can be divided into two segments: the distribution via Co.'s exclusive network and the distribution via specialist outlets. The distribution via Co.'s exclusive network comprises silks and textiles, leather goods and saddlery, ready-to-wear and fashion accessories (men and women's clothing, belts, jewellery accessories, gloves, hats and shoes), and other goods (jewellery and products of the art of living department). The distribution via specialist outlets comprise perfumes, tableware and watches.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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