For decades, fashionistas have known that a Birkin bag is a safe style bet -- if you can get your hands on one. That demand makes its producer, Hermes International SCA, the surest bet in the luxury industry when it comes to sales growth.
LVMH Moet Hennessy Louis Vuitton SA fell to the lowest in five months in Paris trading after saying weaker Asian demand contributed to the slowest growth in sales of fashion and leather products in more than three years.
Twenty members of Hermes International SCA ’s founding family opted against putting their shares in a new holding company, potentially offering an inroad for LVMH Moet Hennessy Louis Vuitton SA to build its stake.
When Chanel SAS stocked boutiques in November with its latest range of 4,000-euro ($5,380) dresses and 3,200-euro quilted handbags for winter getaways to places such as St. Barts, the company wasn’t sure how consumers would react.