The French luxury group reported better-than-expected sales on Friday, pushing its market cap above 300 billion euros for the first time.

French luxury group Hermes reported fourth-quarter results well above analyst expectations on Friday, showing robust appetite from wealthy consumers for its most expensive items including Birkin bags,

The company has outperformed rivals because it caters to the wealthiest clients, whose spending tends to be more reliable than less well-off customers during a downturn.

PARIS – Hèrmes International continues its streak as the leader of the luxury pack, with sales up 18 percent at constant exchange in the fourth quarter to 4 billion euros.

French luxury group Hermes reported an 18% rise in fourth quarter sales on Friday, showing robust appetite from wealthy shoppers for the most expensive luxury items like its Birkin bags, which cost upwards of $10,

STORY: French luxury group Hermes reported fourth-quarter results well above analyst expectations on Friday (February 14).And revealed a robust appetite from wealthy consumers for its most expensive items including Birkin bags.

The maker of the Birkin bag reported higher sales, adding to signs of a potential rebound in demand for luxury goods.