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Posted AT 8:07 AM EST on 22/07/08

Hermes shines in consumer gloom

ASTRID WENDLANDT

Reuters

PARIS — French luxury group Hermes is enjoying solid demand for its trademark printed silks and perfumes, defying concerns about a consumer spending slowdown in North America and Europe. Hermes, which started as a maker of riding harnesses and saddles in the early 19th century, on Tuesday posted a slightly better-than-expected 12.1 per cent rise in second-quarter sales to €398.1-million ($632.5 million U.S.).

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