French Fashion Hermes Increased Sales

Second-quarter sales at the firm's ready-to-wear clothing and fashion accessories division were up 13%, while they rose 11% at its silk and textiles unit.

However, sales of its watches, perfumes, and tableware goods were all down.

Analyst Dennis Weber of Evolution Securities said Hermes was helped by the strength of its brand name.

"Hermes' established brand reputation works in the company's favour in the current environment, and we believe in the relatively defensive nature of the Hermes brand," he said.

The 11% fall in the sale of Hermes' watches between April and June has been echoed by watchmakers in Switzerland, industry figures have shown.

The Swiss Watch Federation said sales at the country's watch-makers, including Rolex and Tag Heuer, were down 26% in the first half of 2009.

It added that the Swiss watch industry was facing its steepest drop in global demand in about 20 years.

Source: BBC News

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