Hermes eyes bigger stores in Germany

BERLIN, Germany - French luxury goods company Hermes achieved its 2014 sales target and is looking to expand in Germany through bigger stores in cities where it already has shops, an executive was quoted as saying by a German paper.

"It's not about adding new towns, but increasing retail space in existing locations," Guillaume de Seynes, head of Hermes' manufacturing division, said in an interview with German daily Handelsblatt.

De Seynes also said that Hermes, which competes with LVMH , had reached its target of increasing sales by 10 percent last year. The company reported sales of 3.7 billion euros ($4.4 billion) in 2013.

Hermes, known for its leather bags, currently operates 10 of its own stores in Germany and recently moved into new premises in Duesseldorf, doubling its retail space there.

In an advance copy of the interview, which is due to be published on Friday, De Seynes said Hermes is not performing as strongly as it was in China but is still achieving sales growth of more than 10 percent.