Requirement for “absolute quality” helps Hermès
Luxury leathergoods brand Hermès has reported revenues of more than €4.2 billion for the first six months of 2021. This represents an increase of 70% compared to the same period in 2020. It also represents a 33% increase on Hermès’s revenues in the first six months of 2019.
Executive chairman, Axel Dumas, said on announcing the results: “The results have been exceptional in nature. But this performance also reflects the momentum and resilience of our model, which puts people, the source of creativity and innovation, as well as the requirement for absolute quality, at its core.”
He said these were “the key factors of our artisanal approach and the desirability of our objects”.
Sales revenues for its leathergoods and saddlery division were a fraction under €2 billion, up by 63% compared to the same six-month period in 2020 and by 25% compared to 25%.
Hermès said there was sustained demand for its classic and new models and that its production capacity was increasing, with a new factory at Montereau opening in June, another in Guyenne scheduled to open in September, another in Louviers opening in 2022, a site in Ardennes following in 2023 and a further site in Auvergne in 2024.
He said it remained committed to creating jobs in France.
