Cointreau and Hermes grow

City A.M. Reporter
THE Chinese are still snapping up Birkin bags and rare Cognacs, boosting sales for European luxury goods companies Hermes and Remy Cointreau and calming fears that demand may be cooling.

French spirits group Remy Cointreau beat forecasts with a 24.4 per cent rise in first-quarter sales, it said yesterday, driven by robust demand for its cognac in Asia and the United States.

Similarly, Hermes reported a 13.4 per cent rise in second-quarter sales supported by strong growth in the Asia-Pacific region outside of Japan, which rose 26.9 per cent.