Following LVMH’s encouraging release, Hermès confirmed the buoyant environment of the luxury industry with 27% revenue growth (vs. consensus of 15%) in Q1 22 despite the uncertain macro backdrop. All regions reported better-than-expected growth, highlighting Asia and the Americas which posted growth more than twice the consensus. Although the resurgence of COVID-19 in China has resulted in some temporary closing of stores and reduced traffic, this has not yet changed the group’s expectations f ....