Mixed bag in Q1 but fundamentals remain a strength, Hermès says
Luxury leathergoods brand Hermès has reported revenues of just under €4.1 billion for the first quarter of 2026. This is a fall of 1.4% compared to the same quarter last year.
Its leathergoods and saddlery division brought in more than €1.8 billion during the three-month period, growth of 2%.
Ready-to-wear and accessories was its second-biggest category with revenues of just over €1 billion, a fall of 6.4% year on year.
Across all categories, Hermès’s revenues in Europe were €885 million, up by 3.2%. This was in spite of a fall of 2.8% in France.
In Asia, the brand’s biggest geographical market, revenues were down by 4.5%, reaching just under €2.3 billion.
There was growth in The Americas, where revenues rose by 6.4% to reach €739 million, but there was a sharp fall in the Middle East where sales contributed €160 million to the Hermès total, down by 13.4%.
Executive chairman, Axel Dumas, said the company was determined to continue with its model of working, even in “a tense geopolitical environment”. He said long-term strategy was based on creativity, uncompromising quality and the loyalty of its customers.
“More than ever, these fundamentals are a differentiating strength,” he concluded.
