Hermes chief Thomas says China booming, U.S. market positive

The overall luxury market should stay soft for at least 18 months, Thomas said in an interview before the brand's fashion show in Paris late Wednesday, as the Japanese market remains “very tough.” On Sept. 22, Thomas had said he wasn't optimistic for the next six months, given Japanese weakness.

The Paris-based maker of Birkin handbags showed a tennis- themed collection designed by Jean-Paul Gaultier, with Eva Herzigova leading the parade of models.

Thomas, who said he was headed to Taipei to open a store after the show, joins Valentino Fashion Group SpA Chief Executive Officer Stefano Sassi among luxury-goods executives who've made bullish remarks about China during this season's Paris fashion week.

Hermes has been doing very well recently in western Europe, Thomas also said, adding that the company aims to maintain the pace of store openings and won't slow down next year.

Japan is Hermes's biggest market. Japanese demand for imported luxury clothes, bags and other goods fell 10 percent to 1.06 trillion yen (US$11.9 billion) last year from 2007, Yano Research Institute Ltd. said in a report in June.

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