Hermes sales rebounded strongly in the fourth quarter of last year, up 16% year-on-year, far exceeding analysts' forecasts, and the decline in annual revenue was smaller than that of competitors.

At the end of last year, French luxury goods company Hermès benefited from China's strong growth. Due to the suspension of overseas travel due to the COVID-19, Chinese consumers snapped up the company's colorful silk scarves and purses in the domestic market.

The Birkin bag and Kelly bag manufacturer's sales rebounded strongly in the fourth quarter of last year, up 16% year-on-year. This surpassed analysts’ expectations, almost equal to the performance of industry leader LVMH, and far surpassed Gucci owner Kering.

On a comparable basis, Hermes’ annual revenue fell 6% year-on-year to 6.4 billion euros, higher than the consensus estimate of 6.2 billion euros. This signifies that the situation for Hermès is not so bad compared to the 17% decline of larger rivals LVMH and Kering.