The forecast for 2011 is clouded by geopolitical and economic uncertainties, and more specifically by trends in the Japanese market. As a result, it is difficult to make any projections. Our consolidated revenue growth target for the year remains unchanged, in the range of 8 % to 10 % at constant exchange rates.
Hermès will not deviate from its long-term strategy of maintaining control over its know-how and distribution network. In 2011, Hermès will continue to invest in expanding its distribution network and plans to open ten branches.
The theme for 2011, "Hermès Contemporary Artisan" focuses on the excellence and authenticity of the expertise in craftsmanship that is the foundation on which the house has built its success over time, and that will continue to underpin it in the future. The consummate skill of our craftsmen serves as the basis for our unrivalled quality and as the cornerstone for our ambitious, inspired creations.
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