If you look at the latest very positive quarterly financial results for high fashion and luxury groups, you’ll find that the Zaplutos are living in a different world without recession, inflation or expensive electricity.

And he is obviously absolutely right, just look at the sales of Hermes International and LVMH, as well as the Swiss watches that have taken off with the help of a resurgent demand from China, and American tourists flooding Guerria. helped by a strong dollar.

Ah, despite great hardships for most of the world’s population, Birkin bags, Moet Hennessy champagne and Louis Vuitton leather goods will always be bought.

As for the export of Swiss watches, it increased by 19% in September, which means that the sector as a whole is very close to ending the current year with record results.

Exports in particular increased to 2.2 billion Swiss francs, making September one of the best months ever, according to the Swiss Watchmakers Confederation.

And in the nine months of 2022, exports grew by 13% thanks to strong demand for Swiss watches in the US, Japan, Singapore and the United Arab Emirates. And in China, sales rose by 15% despite the country having a zero-case policy with strict restrictions.

It is worth noting, according to Bloomberg, that the industry is actively recovering from the pandemic thanks to consumers saving during the quarantine and digital sales.

In the case of Hermes, revenue in the third quarter rose by 24% to 3.1 billion euros, excluding currency fluctuations. These results surpassed analysts’ estimates. Its shares rose 4.3% yesterday in morning trading on the Paris Stock Exchange.

On top of that, luxury, accessories and high fashion groups in general seem to be largely immune to the cost cuts that affect other retailers and especially consumer goods companies.

“At this point, we have no signs of slowing growth in any of our markets,” house chief financial officer Eric de Alve told reporters. However, he clarified that Hermes remains vigilant due to conditions in the international geopolitical and macroeconomic context. However, at the same time, Eric de Allge said that as another gesture of confidence in the strength of Hermes, the company plans to speed up recruitment.

No matter what, Birkin bags, Moet Hennessy champagne and Louis Vuitton leather goods will always buy.

Hermes hired over 800 employees in the first half of 2022 and plans to add 800 more by the end of the year. At the end of June, the group employed 18,400 people.

The company opened a new flagship store in New York in September and plans to open another in Shanghai at the end of October.

In addition, Hermes believes that the prices of its products can be increased. Eric de Alvey confirmed that the group plans to increase product prices worldwide by 5-10% in 2023, compared to 4% in 2022.

Hermes is considered to be one of the most influential brands in the luxury realm, with handbag production limited only by its own capabilities. In September, the auction house Sotheby’s sold its most expensive crocodile leather Hermes Kelly bag for 352,800 euros at an auction in Paris.