‘Exceptional’ first half for Hermes
05/08/2021
Sales in the group's stores increased by 81% at constant exchange rates compared to last year, and by 41% compared to 2019.
Chairman Axel Dumas said: "The results for the first half of the year 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.
“These are the key factors of our artisanal approach and the desirability of our objects. We are equipped to cope with uncertainties while remaining faithful to our values."
Sales in Asia excluding Japan (+87% and +70% over two years) were driven by the strong performance in Greater China and by the acceleration in sales in Singapore and in Thailand, despite new restrictions in some countries in the second quarter.
A store opened in Macau in April, and the China World store in Beijing and the store in Brisbane in Australia reopened after renovation and extension.
Sales in the Leather Goods and Saddlery division (+63% and +25% over two years) performed well, after being driven by the significant deliveries made at the end of 2020.
The Montereau workshop (Seine-et-Marne) was inaugurated in June. The increase in production capacities continues, with the Guyenne workshop (Gironde) opening scheduled in September, the Louviers site (Eure) for 2022, the new site in Ardennes for 2023 and the second production site in Auvergne for 2024.
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