Luxury fashion house Hermès has reported €4.1 billion in revenue for the first quarter. That’s a 9% increase from last year.
Executive Chairman Axel Dumas credited this success to Hermès’ deep focus on quality and creativity. He also praised the team’s dedication and customer loyalty.
“In a complex geopolitical and economic context, the house is strengthening its fundamentals more than ever: uncompromising quality, creativity at the heart of all development, and vertical integration, a guarantee of preserving unique savoir-faire.”
Axel Dumas, Executive Chairman, Hermès
Global sales growth led by Japan and Europe
Every region where Hermès operates saw growth. Here’s how different areas performed:
Japan grew 17%, thanks to strong local demand.
Europe, excluding France, rose 13%, while France alone saw a 14% increase. Tourist spending helped push numbers higher.
The Americas jumped 11%, driven by strong sales in the United States.
Asia excluding Japan edged up 1% despite a slowdown in China.
The Middle East and other regions grew by 14%, continuing their solid momentum.
Hermès’ leather goods and saddlery department brought in the most growth, up 10% year-on-year. New bag models like Médor and Mousqueton were a hit with customers.
To meet demand, the company is opening new workshops across France over the next few years. Other divisions also saw gains, except for watches and beauty products, which remained flat.
Staying true to its values, Hermès will reward its workers by distributing over €500 million in profit-sharing for 2024. The brand also continues to invest in climate-friendly practices, including better energy use and supply chain policies.
Despite challenges in the world economy and politics, Hermès is optimistic. Its long-term plan remains unchanged keep building on creativity, protect traditional craftsmanship, and grow steadily.
