PARIS — There have been no hurdles for Hermès International because it continued its winning sales streak within the third quarter. Revenues were up 3.1 billion euros, boosted by Asia and the U.S., with currency fluctuations working in its favor.

Sales were up 24.3 percent within the third quarter. That handily beat analyst predictions, with a consensus estimate of 15.3 percent growth at constant exchange, and forecast sales within the 2.9 billion euro ballpark.

“The strong performance within the third quarter reflects the desirability of our collections all all over the world and the relevance of our values. We move forward with confidence and caution while continuing to bolster our integrated model, rooted in France and committed to job creation,” said chief executive officer Axel Dumas.

The brand’s desirability didn’t dim even within the face of accelerating prices. Hermès upped its prices by a mean of three.5 percent in January across divisions, and added one other increase of three percent to five percent for its watches and jewellery in July consequently of the rising cost of gold.

The corporate cited its French roots, integrated craftsmanship model and distribution network in maintaining a measured outlook for the remainder of 2022. With economic and political headwinds “still difficult to evaluate,” the corporate reiterated its customary guidance of “ambitious goals for revenue growth at constant exchange rates.”

The corporate indicated they may proceed the worth increase strategy unabated, targeting additional 5 percent to 10 percent raises in 2023. Those increases will hit Europe and Japan at the next rate, with the U.S. and China less so. 

The corporate also noted that online sales growth is outpacing in-store purchases, moving roughly 10

Following the stellar results of LVMH Moët Hennessy Louis Vuitton reported last week, the continued buoyancy of the luxurious sector “suggests that the high-end global luxury goods demand has yet to normalize,” Bernstein analyst Luca Solca said in a note following the discharge.

Shares opened 3 percent higher following the news.

Revenue for the primary nine months ending Sept. 30 were 8.61 billion euros, up 23.6 percent at constant exchange year-on-year.

Currency fluctuations boosted revenue by 451 million euros. The corporate used the additional money to buy greater than 100,000 shares of its stock in a buyback valued at 116 million euros in the primary nine months of the yr.

Asia outside of Japan had a very strong showing, up 33.7 percent within the third quarter, as retail maintained regular demand in Greater China despite temporary lockdowns in Macau, Chengdu and Dalian over the summer. Outside of mainland China, the corporate cited continued strength in South Korea, Thailand and Singapore. The strong rebound of the region particularly boosted global leather goods sales, which were up 13.2 percent, with Greater China’s sustained demand cited by the corporate.

Analysts for Barclay’s said the figures were “very encouraging,” noting that the sales in China were mostly organic — meaning not related to the brand’s price increases — and showed continued momentum within the region. 

Sales in Japan were up 22.7 percent, with the corporate citing the “loyalty of local clients,” because the country maintained strict travel rules for tourists entering the country until Oct. 11.

Following the opening of its Madison Avenue flagship and an outpost in Austin, Texas, sales within the Americas were up 18.1 percent within the third quarter.

Sales in Europe were boosted by the return of tourists and the weak euro, up 11.7 percent and particularly strong within the U.K. and Italy. In France, which also benefited from a serious influx of tourists, sales jumped 10.9 percent within the third quarter.

Broken down by category, the performance of the watch division was up a “remarkable” 55.2 percent within the third quarter, because of the year-old H08 line and the brand’s Cape Cod and Heure H pillar lines.

One other exceptionally strong category was ready-to-wear and accessories, up 42 percent, with continuing strong momentum in each men’s and ladies’s categories.

Silk and textiles, which incorporates the brand’s famous scarves, were up 22.9 percent, supported by increased production capability with a latest factory in Lyon, France. The combined homewares and jewellery category rose 31 percent.

A 7.4 percent increase within the perfume and wonder sector was credited to the success of the brand new H24 fragrance, which was launched in the primary quarter of 2021. Limited color launches within the makeup line were also framed as successes.

The outcomes follow a stellar first half of the yr. The corporate reported a record operating margins of 42 percent and an operating income of two.3 billion euros, in results reported in July.

LVMH reported 19 percent growth in results released earlier this month, and Gucci and Saint Laurent parent company Kering will report its quarterly sales on Thursday in numbers released after market close.