Hermes is benefiting from a rebound in spending on luxury goods

Hermes is benefiting from a rebound in spending on luxury goods hermes bags USA CEO Robert Chavez said the new store is its 24th US outlet and that he could envision opening another six locations within 10 years.Hermes CEO sees higher taxes hitting luxury. The most obvious candidates in the United States for the next Hermes stores are Phoenix, Minneapolis and Los Angeles, which already has one store, Chavez said, adding, however, cvgdfsdftfy that openings in those cities were not yet in the works. Chavez said buy hermes birkin , the world's third biggest luxury goods maker after LVMH and Richemont, still had room to grow in the New York area, pointing to its absence from The Mall at Short Hills, a New Jersey mall operated by Taubman Centers Inc.That mall houses stores by high-end rivals such as Saks Inc, Nordstrom Inc, Neiman Marcus Group Inc and jeweler Tiffany & Co. Still, hermes handbags does not see itself going beyond 30 US stores. And while Asia shows great promise, Thomas said the chain was not in a rush to open that many new stores there or elsewhere, for that matter."Hermes is extremely careful in the way we open new stores," Thomas said, adding the company usually prefers to expand its existing stores. hermes birkin bags said sales could rise around 15 percent at constant exchange rates this year from 1.91 billion euros ($3.4 billion) in 2009, up from a previous target of about 12 percent.Hermes lifts targets as luxury rebound continues .The company added it expected its underlying operating margin to rise by 1-2 percentage points this year, depending on currency trends. It had forecast a hermes birkin handbag rise of at least 1 point."The recovery in wholesale revenue initiated in the first half was confirmed and all Hermes business sectors delivered growth" in the third quarter, Hermes said in a statement.Demand was high for its leather bags and women 's silk collections. hermes birkin bag price is benefiting from a rebound in spending on luxury goods after suffering during the global downturn, but the group was recently rocked when luxury giant LVMH revealed it had taken a surprise 17 percent stake in its smaller peer.The French stock market regulator said last week it hermes birkin bags for sale would investigate the conditions under which LVMH built its shareholding. Family shareholders own 73 percent of hermes belts and LVMH has said it could increase its holding.Hermes on Tuesday posted a 31 percent rise in third-quarter sales to 590 million euros, driven by a 32 percent rise in cheap hermes bags leather goods and saddlery division. Asia saw 41 percent hermes constance growth, boosted by a sharp upturn in its own stores and continued expansion of its distribution network, with three branches opened in China since the start of the year.This excludes Japan, where sales dipped 1 percent. articleSource: