Hermès soars in the first half, with a net profit and a record margin

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The French group Hermès reveals a clear increase in the first half of the year. Its consolidated turnover over the period amounted to 6,698 million euros, up 25% at constant exchange rates and 22% at current exchange rates.

 

Despite an uncertain economic and geopolitical context, Maison Hermès continues to show resilience, with exceptional performances for the first half of 2023. Indeed, the French luxury leather goods group posted an impressive turnover of 6,698 million euros, an increase of 25% (at constant rates) over the same period in 2022.

 

Despite the economic, geopolitical and monetary uncertainties in the world, the group confirms an ambitious target for revenue growth at constant rates,” said the label in a statement.

 

The second quarter was very successful, with sales reaching 3,317 million euros, up 28% at constant rates and 22% at current rates. This shows an acceleration compared to the first half, which had already posted solid growth of 23%.

 

Axel Dumas, the current and sole manager of Hermès, attributed these remarkable figures to the strength of the pillars of the Maison’s artisanal model. He stressed the importance of continuing to invest in the production capacity of the group and the expansion of its network to support this growth.

 

Hermès around the world

 

The engine of this growth? Asia, especially China. The continent accounted for 60% of the group’s sales in the first half of the year.

 

The saddler also recorded an impressive increase of 26% at constant rates in Japan and 34% in Asia-Pacific. A figure that is more than impressive in view of the sanitary measures that have affected China for long months, putting an almost total stop to the world of luxury and fashion in the country of Middle.

 

Across the Atlantic, Hermès has managed to minimize the impact of the slowdown in the US market, unlike other luxury players. In fact, it implemented minimal exposure in the Americas, but despite this, brand growth declined by 20% at constant rates in the second quarter.

 

The group’s recurring operating income was €2,947 million, or 44% of revenue. Net income increased by 36% ( €2,226 million).

 

These figures show the strength of the House. She continues to focus on her strategy, based on creativity, mastery of know-how and communication.

 

 

Read also >Hermès, champion of the reindustrialization of luxury goods in France

 

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The French group Hermès reveals a clear increase in the first half of the year. Its consolidated turnover over the period amounted to 6,698 million euros, up 25% at constant exchange rates and 22% at current exchange rates.

 

Despite an uncertain economic and geopolitical context, Maison Hermès continues to show resilience, with exceptional performances for the first half of 2023. Indeed, the French luxury leather goods group posted an impressive turnover of 6,698 million euros, an increase of 25% (at constant rates) over the same period in 2022.

 

Despite the economic, geopolitical and monetary uncertainties in the world, the group confirms an ambitious target for revenue growth at constant rates,” said the label in a statement.

 

The second quarter was very successful, with sales reaching 3,317 million euros, up 28% at constant rates and 22% at current rates. This shows an acceleration compared to the first half, which had already posted solid growth of 23%.

 

Axel Dumas, the current and sole manager of Hermès, attributed these remarkable figures to the strength of the pillars of the Maison’s artisanal model. He stressed the importance of continuing to invest in the production capacity of the group and the expansion of its network to support this growth.

 

Hermès around the world

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The French group Hermès reveals a clear increase in the first half of the year. Its consolidated turnover over the period amounted to 6,698 million euros, up 25% at constant exchange rates and 22% at current exchange rates.

 

Despite an uncertain economic and geopolitical context, Maison Hermès continues to show resilience, with exceptional performances for the first half of 2023. Indeed, the French luxury leather goods group posted an impressive turnover of 6,698 million euros, an increase of 25% (at constant rates) over the same period in 2022.

 

Despite the economic, geopolitical and monetary uncertainties in the world, the group confirms an ambitious target for revenue growth at constant rates,” said the label in a statement.

 

The second quarter was very successful, with sales reaching 3,317 million euros, up 28% at constant rates and 22% at current rates. This shows an acceleration compared to the first half, which had already posted solid growth of 23%.

 

Axel Dumas, the current and sole manager of Hermès, attributed these remarkable figures to the strength of the pillars of the Maison’s artisanal model. He stressed the importance of continuing to invest in the production capacity of the group and the expansion of its network to support this growth.

 

Hermès around the world

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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