Luxury goods sector has recovery in the bag as Hermès posts sales jump

French fashion house Hermès on Thursday offered further signs of a recovery in the luxury goods sector after a jump in first-quarter sales.

The label, known for its Birkin bags which start at £6500, noted strong handbag sales in the three months to March, as well as good demand for its £300 silk scarves.

Adjusted for exchange rates, sales soared 11% to €1.35 billion (£1.15 billion).

The firm enjoyed growth in Europe, as well as rising demand from Asian customers.

The figures come on the back of similar upbeat news from LVMH and Gucci parent Kering this month, which also revealed growth.

Previously companies in the high-end fashion sectors have suffered from factors such as weaker footfall in Europe as a result of a spate of terror attacks, and a slower Hong Kong market.

Hermès said it was keeping an “ambitious” goal for revenue growth “despite growing economic and geopolitical and monetary uncertainties around the world”.

Elsewhere, the Federation of the Swiss Watch Industry said Swiss watch exports rose for the first time in 20 months in March, partly boosted by the weaker pound.