Hermès, the renowned luxury brand, has released its financial results for the third quarter, showing impressive growth across its watchmaking sector and all territorial markets. The watchmaking division saw an exceptional 55% increase, contributing to the brand’s overall success. The positive momentum during this period was further reinforced by Hermès’ show in Paris titled “Vive la légèreté!” (Long Live Lightness!). These factors propelled the brand to achieve a remarkable 32.5% increase in revenue, amounting to €3.14 billion.
Axel Dumas, the CEO of Hermès, expressed confidence in the brand’s integrated model, which is centered in France and actively contributes to job creation. In fact, Hermès ranks 10th on the list of companies that actively recruit on the Welcome to the Jungle platform.
The impressive growth in Hermès’ financial results can be attributed to various divisions within the brand. The watchmaking segment experienced a substantial 55% increase compared to the same period last year. Key collections like Arceau, H08, and Cape Cod played a significant role in driving this growth. Additionally, the clothing and accessories division saw a substantial 38% increase, while the silk and textiles business also experienced a notable 27% growth.
The leather goods-saddlery department, a flagship activity for Hermès, enjoyed a 13% increase. This growth was mainly driven by the strong rebound in Greater China and the ever-increasing demand for Hermès’ iconic “it-bags.” The fragrance and beauty range also saw significant growth of 18%, thanks to the successful launch of new products like the H24 fragrance and the expansion of the makeup line. Furthermore, Hermès’ other businesses, including jewelry and collections like Petit H, experienced a commendable growth of 31%.
Hermès’ growth was not limited to a specific region, as all of its markets saw substantial growth ranging from 20% to 30%. Despite the earlier health restrictions in parts of Asia, sales on the continent (excluding Japan) remained unaffected and witnessed a remarkable growth of 34%. In the Americas, revenue increased by 28%, primarily driven by the United States. The brand hosted various events, including store openings and the Fit event in Los Angeles, which contributed to its success. France, a key market for Hermès, also registered a significant increase in sales of 28%, supported by the strong loyalty of local customers. Additionally, sales in Europe (excluding France) increased by 25%, thanks to the recovery of tourist flows.
In the first nine months of the year, Hermès achieved a remarkable 30% growth, amounting to €8.61 billion, compared to the same period in 2021.
Useful Links:
1. Hermès Official Website
2. Welcome to the Jungle Platform
