Sustained demand for Hermès leathergoods
Luxury group Hermès has reported revenues of just over €10 billion for the first nine months of this year, an increase of 17% year on year.
Sales were up by 25% year on year in Japan and by 21% in the rest of Asia. In the Americas and in Europe (excluding France), revenues were up by 20% compared to the same period in 2022.
In the company’s home market, sales were “particularly robust”, Hermès said, growing by 22% “thanks to the loyalty of local clients and the dynamics of tourist flows”.
Its leathergoods and saddlery business division contributed almost €4.2 billion to the total, growing by 19%. The company said this part of the business had benefitted “from a very sustained demand and high desirability”.
It highlighted the Kelly Messenger and Maxi Kelly as holding particular appeal for customers over the nine-month period, while new models the Hermès Geta and the RMS suitcase are also “meeting with great success”, it said.
The increase in production capacity continues at Hermès, with four new leather workshop projects planned to open over the next four years. It said it was committed to strengthening its roots in France and to creating jobs there.
Executive chairman, Axel Dumas, said on presenting the results: “More than ever, in an uncertain global environment, we are reinforcing our investments and our teams to support growth.”
