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Leather still the lead category for Hermès

31/08/2012
Luxury leathergoods brand Hermès achieved revenues of just under EUR 1.6 billion in the first half of 2012, an increase of 21.9% compared to the first half of last year. In terms of net profits, the group achieved EUR 335.1 million in the January-June period in 2012, up by 15.2% compared to the same period in 2011.

In terms of geography, Hermès achieved year-on-year growth of 3% in Japan over the six-month period, but of 25% in the rest of Asia, led by its performance in China, Singapore and Hong Kong. Growth in its home market, France, was 10%, with 21% in the rest of Europe. In the Americas, there was growth of 9%, although the company pointed out that this was on the back of “an exceptional comparative figure in the first half of 2011” of 34% growth.

The company’s traditional leather category, including handbags, saddlery and equestrian products, diaries and small leathergoods, is still its most important source of revenue, accounting for more than 46% of all sales in the first half of 2012. Total revenues for the category of EUR 739.5 million represent an increase of 17.4% compared to the first half of last year.

Leather contributed more than twice as much as the next strongest category, which Hermès calls clothes and accessories. Among the accessories in this group of products are belts and gloves, which of course also use leather.


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