Hermès keeps the good news going
The French leather sector has reported further goods news to follow reports of a strong start to the year for LVMH and of growth in exports for the industry as a whole in 2021.
This time, it is leather-focused luxury group Hermès that has announced good figures. Its revenues for the first quarter of 2022 exceeded €2.75 billion, registering growth of 33% compared to the same quarter last year.
Hermès said “sustained growth in leathergoods” had been one of the key factors. Its leathergoods and saddlery division posted revenues of just under €1.2 billion, up by 21.1% year on year.
Executive chairman, Axel Dumas, said: “The strong growth in sales at the beginning of this year reflects the desirability of our collections and the confidence of our customers in our artisanal and responsible approach.”
Mr Dumas said Hermès was accelerating its strategic investments, “despite a still uncertain context” in the global economy, recruiting and training people to support growth in all parts of the business.
Hermès has said it is basing its long-term development strategy on creativity, maintaining control over know-how and good communication.
