Asian growth lifts Hermès
Luxury group Hermès has reported full-year revenues for 2020 of just under €6.4 billion, a fall of 6% year on year.
Its leathergoods and saddlery division brought in half of all the group’s revenues, €3.2 billion. The decline in revenues for this division was lower at 4.8%. Revenues fell by 23.6% in Europe, but the Asian market, which accounted for almost 60% of Hermès’s total revenues, registered growth of 9.9%.
Among highlights it picked out from 2020, Hermès mentioned its “enrichment” of its leathergoods collections with the arrival of the Chaîne d’Ancre and Birkin Cargo bags. It also made much of its ongoing commitment to expanding its network of artisan leathergoods workshops in France.
In 2020, the company laid the foundation stone of a new factory at Louviers in Normandy, and continued construction of two new facilities that it intends to open this year; these factories are at Guyenne, near Bordeaux, and at Montereau in Seine-et-Marne.
It said a new site will open in the Ardennes region by 2023 and announced that a further new leather workshop will open in the Auvergne region by 2025.
