Hermes China Maintains Its Original Business Strategy

In July, Hermes pointed out that a number of price adjustments had been made, including lowering the 10% price in Switzerland and making some "less obvious" price cuts in China.

Hermes also expressed vigilance against the US market.

Axel Dumas pointed out that "retail sales in the United States may be difficult.

As the US dollar is stronger, there may be fewer tourists in the US.

"This country is very important to us, and it contributes a lot to our growth.

The retail industry needs us to be vigilant, but we are also worried about it. "

Despite the economic downturn, Hermes has said

We will continue our original business strategy while closely monitoring the development trend of US retail market dragged down by a strong dollar.

First half year

Benefiting from the fall of the euro, operating earnings recorded an increase of 20% to 748 million euros.

The same period operating profit reached 32.5% of sales.

Like the automotive industry and the basic resource industry,

The industry's share price in August was affected by investors' concerns about the health of China's economy.

But Hermes has said that the impact of the depreciation of the renminbi and the collapse of China's stock market on the company's business is still too early.

Group Chairman Axel Dumas said, "in my opinion, these two events are limited."

"Are they down because the slowdown in growth has led to economic slowdown? Will the Shanghai stock market affect the confidence or consumption desire of Chinese customers? All these require our close attention."

Axel Dumas also believes that the depreciation of the renminbi helps to "rebalance" the price gap between Europe and China.

Hermes confirmed the expected target that the market was too cautious.

That is, the turnover is fixed at a fixed rate of about 8%.

The group also reiterated that its operating earnings in 2015 would be lower than in 2015 because of exchange rate factors.