Luxury fashion house Hermes has reported sales of almost €6 billion ($6.8 billion) in 2018, a rise of 10% compared to the previous year.
The company did particularly well in China and Southeast Asia, where sales increased 14%.
L'Oreal, the world's biggest cosmetics company, reported that strong sales in China helped its sales grow at the fastest pace in a decade. Asia Pacific has now overtaken North America as its top market.
Hermes (HESAY) stock was up 1.4% while shares in L'Oreal (LRLCF) gained 0.8%.
They're the latest companies to defy expectations that an economic slowdown in China would hurt luxury brands. Apple (AAPL) helped sparked the concerns earlier this year when it warned of weaker iPhone sales in the country.
LVMH (LVMHF), the owner of brands including Dior and Louis Vuitton, posted record annual sales last week.
from CNN.com - RSS Channel https://cnn.it/2WOOH0dBagikan Berita Ini
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