{"id":157588,"date":"2026-10-22T12:35:55","date_gmt":"2026-10-22T10:35:55","guid":{"rendered":"https:\/\/www.retaildetail.be\/?p=157588"},"modified":"2026-10-22T12:35:56","modified_gmt":"2026-10-22T10:35:56","slug":"la-chine-et-le-marche-de-loccasion-mettent-hermes-sous-pression","status":"publish","type":"post","link":"https:\/\/www.retaildetail.be\/fr\/news\/mode\/la-chine-et-le-marche-de-loccasion-mettent-hermes-sous-pression\/","title":{"rendered":"La Chine et le march\u00e9 de seconde main mettent Herm\u00e8s sous pression"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">La maison de luxe fran\u00e7aise <strong>Herm\u00e8s <\/strong>voit sa croissance retomber \u00e0 son plus bas niveau depuis la pand\u00e9mie de coronavirus. Le march\u00e9 chinois, en particulier, d\u00e9\u00e7oit, tandis que les analystes s\u2019interrogent sur le caract\u00e8re exclusif des sacs \u00e0 main embl\u00e9matiques Birkin et Kelly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Les clients chinois du luxe se d\u00e9tournent<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Au troisi\u00e8me trimestre, Herm\u00e8s a enregistr\u00e9 un chiffre d\u2019affaires de 4,1 milliards d\u2019euros, soit une hausse de 4,3 % \u00e0 taux de change constants. La maison de luxe affiche ainsi sa plus faible croissance trimestrielle depuis d\u00e9but 2020. C\u2019est surtout la Chine qui p\u00e8se sur les r\u00e9sultats. Dans la r\u00e9gion Asie-Pacifique, hors Japon, le chiffre d\u2019affaires a stagn\u00e9, alors que les analystes tablaient sur une croissance de 1,55 %. Cette r\u00e9gion repr\u00e9sente environ 42 % du chiffre d\u2019affaires du groupe.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Le directeur financier Eric du Halgou\u00ebt qualifie le march\u00e9 chinois de \u00ab difficile \u00bb. La crise immobili\u00e8re, la faiblesse des march\u00e9s financiers et le durcissement des mesures fiscales \u00e0 l\u2019encontre des Chinois fortun\u00e9s freinent la demande de produits de luxe. Herm\u00e8s maintient n\u00e9anmoins ses investissements \u00e0 long terme dans le pays.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ce ralentissement n\u2019affecte pas toutes les cat\u00e9gories de produits de la m\u00eame mani\u00e8re. La division maroquinerie, avec les sacs \u00e0 main tr\u00e8s convoit\u00e9s Birkin et Kelly, a encore enregistr\u00e9 une croissance de 10,8 %. En revanche, les ventes de v\u00eatements et d\u2019accessoires, qui repr\u00e9sentent plus d\u2019un quart du chiffre d\u2019affaires, ont recul\u00e9 de 2 %. Selon M. du Halgou\u00ebt, ce recul est enti\u00e8rement imputable \u00e0 la Chine.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Le Birkin risque-t-il de perdre son exclusivit\u00e9 ?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Outre la baisse des chiffres de vente, les inqui\u00e9tudes grandissent quant au mod\u00e8le \u00e9conomique d\u2019Herm\u00e8s. Celui-ci repose en grande partie sur la raret\u00e9 : les clients doivent souvent attendre des ann\u00e9es pour obtenir un sac \u00e0 main tr\u00e8s convoit\u00e9, tandis que cette disponibilit\u00e9 limit\u00e9e renforce l\u2019exclusivit\u00e9 et le pouvoir de fixation des prix de la marque.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mais selon les analystes d\u2019UBS, l\u2019offre de sacs Birkin et Kelly sur le march\u00e9 de l\u2019occasion augmente (trop) rapidement. \u00c0 l\u2019\u00e9chelle mondiale, il y aurait actuellement six \u00e0 sept fois plus d\u2019exemplaires \u00e0 vendre qu\u2019avant la pand\u00e9mie. \u00ab Nous pensons que la nature de l\u2019entreprise est en train de changer \u00bb, affirment les analystes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Herm\u00e8s ne voit pour l\u2019instant aucune raison de s\u2019inqui\u00e9ter. Selon Du Halgou\u00ebt, l\u2019attrait du Birkin reste \u00ab intact \u00bb. La maison de luxe souhaite augmenter sa capacit\u00e9 de production et ses volumes d\u2019environ 6 % par an au cours des prochaines ann\u00e9es.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">La maison de mode est toutefois confront\u00e9e \u00e0 des d\u00e9fis commerciaux li\u00e9s aux r\u00e9centes \u00e9meutes en France. La boutique de Marseille a \u00e9t\u00e9 pill\u00e9e et, selon le directeur financier, ne rouvrira pas de sit\u00f4t. Des magasins \u00e0 Paris, Nantes et Lyon ont \u00e9galement subi des d\u00e9g\u00e2ts. La maison de luxe a renforc\u00e9 ses mesures de s\u00e9curit\u00e9.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>La maison de luxe fran\u00e7aise Herm\u00e8s voit sa croissance retomber \u00e0 son plus bas niveau depuis la pand\u00e9mie de coronavirus. Le march\u00e9 chinois, en particulier, s&rsquo;av\u00e8re d\u00e9cevant, tandis que les analystes s&rsquo;interrogent sur le caract\u00e8re exclusif des sacs \u00e0 main embl\u00e9matiques Birkin et Kelly.<\/p>\n","protected":false},"author":5,"featured_media":157589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,22],"tags":[509,1656,173],"people":[],"extra":[43],"company":[935],"topic":[266],"region":[342],"class_list":["post-157588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mode","tag-luxe","tag-luxe-2","tag-seconde-main","extra-plus","company-hermes","topic-resultats-financiers","region-france"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>La Chine et le march\u00e9 de seconde main mettent Herm\u00e8s sous pression - RetailDetail BE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.retaildetail.be\/fr\/news\/mode\/la-chine-et-le-marche-de-loccasion-mettent-hermes-sous-pression\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"La Chine et le march\u00e9 de seconde main mettent Herm\u00e8s sous pression - RetailDetail BE\" \/>\n<meta property=\"og:description\" content=\"La maison de luxe fran\u00e7aise Herm\u00e8s voit sa croissance retomber \u00e0 son plus bas niveau depuis la pand\u00e9mie de coronavirus. 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