Hermès, growth of +17%, maintains its resilience for 2024

At the end of March 2024, Hermès, driven by the Asian market, posted double-digit growth (+17.5%) in all regions of the world, at constant exchange rates. Store openings and extensions, as well as events, contributed to the surge in figures, particularly in Japan (+25%) and the rest of Asia (+14%). In the Americas, the Parisian brand also posted growth of +12%, thanks to continued dynamism in the United States. The same is true of the European market, with growth of +15% outside France and +14% in France alone.

Axel Dumas, Managing Director of Hermès, attributes the merits of this growth to a loyal clientele around the world, as well as to “the strength of the Group's artisanal model and the desirability of its creations in a more complex environment”, he said in a press release.

Among Hermès' sixteen métiers, “Other Métiers”, which includes jewelry and home furnishings, led the Group's performance with the strongest increase (+25%). This was closely followed by “leather goods and saddlery” (+20%), which accounts for the majority of Group sales, and for which demand is particularly strong. The “clothing and accessories” sector posted growth of +16%, boosted in particular by accessories and shoes, and the “Hors-Série” women's collection presented at 24 Faubourg Saint Honoré. Perfumes & Beauty and Watches both posted modest +4% growth, while Silks & Textiles jumped +8%.

“Hermès is pursuing its strategy based on exceptional expertise, the finest materials and an uncompromising demand for quality” added Axel Dumas. This is evidenced by an ambitious sales growth target at constant exchange rates for 2024, which will be driven by the theme L'esprit de Faubourg, in reference to its iconic Parisian store.