Hermès, the renowned luxury fashion group, recently organized its annual general meeting (AGM) in a distinctive virtual format. This closed-door event took place at Hermès’ offices in Pantin, while being livestreamed on their website for wider accessibility. The AGM encompassed inspiring speeches from managers, along with captivating videos demonstrating the company’s resilience and accomplishments throughout the past year.
In spite of facing a 7% decline in revenues in 2020, Hermès proudly underscored its remarkable performance and shed light on three pivotal elements driving its success. Firstly, the company highlighted its unwavering commitment to employee engagement, recognizing the essential role of its workforce in achieving excellence. Secondly, Hermès emphasized the significance of its craftsmanship, creativity, and innovation in crafting exquisite products that captivate luxury consumers. Lastly, the company emphasized its strategic continuity, which is guided by the family’s ownership, indicating a strong sense of tradition and long-term vision.
A noteworthy announcement made during the AGM was the decision to transform Hermès’ general partner, Émile Hermès SARL, into a simplified joint-stock company. This strategic move aims to involve younger family members in the company’s management processes, allowing for a seamless generational transition. This resolution was overwhelmingly approved by the majority of votes, showcasing the unity and collective decision-making within the Hermès family.
CEO Axel Dumas emphasized the vital role of the human element in Hermès’ triumphant journey, highlighting the consistent creation of jobs over the years. The group has made substantial investments in bolstering its sales network and refining its supply chain, with a primary focus on enhancing its global presence. These efforts reaffirm Hermès’ commitment to providing an unparalleled luxury experience to customers worldwide.
The AGM also served as a platform to celebrate the company’s robust financial results, as Hermès announced a proposed dividend that remains unchanged from the previous year. This steadfast commitment to shareholders’ returns showcases Hermès’ dedication to maintaining stability and trust in uncertain times.
Concluding the meeting, Hermès unveiled the date for next year’s AGM, ensuring transparency and providing an opportunity for stakeholders to mark their calendars for future updates and engagements.
For more information on Hermès and its AGM, please visit the following links:
1. Hermès Official Website
2. Hermès Governance Information
