• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

French fashion firm Hermes' revenues surge 17% in Q1 FY24

25 Apr '24
2 min read
French fashion firm Hermes' revenues surge 17% in Q1 FY24
Pic: Robert - stock.adobe.com

Insights

  • Hermes International reported Q1 FY24 revenues of €3.805 billion (approximately $4.08 billion), up 17 per cent at constant exchange rates.
  • All regions saw double-digit growth, led by Japan's 25 per cent increase.
  • Leather goods and saddlery led sector growth at 20 per cent, with strong performance across ready-to-wear and silk and textiles sectors.
France-based luxury fashion brand Hermes International has reported consolidated revenues of €3.805 billion (approximately $4.08 billion) in the first quarter of fiscal 2024 (Q1 FY24), marking a 17 per cent increase at constant exchange rates and a 13 per cent rise at current exchange rates.

Across the globe, all geographical areas reported double-digit growth, continuing the network’s expansion through new store openings and extensions. Asia, excluding Japan, saw a 14 per cent increase in sales, reflecting broad growth across the region. Japan experienced an impressive 25 per cent growth, while the Americas, buoyed by strong momentum in the US, posted a 12 per cent increase. Europe also showed solid performance with France and the rest of Europe excluding France growing by 14 per cent and 15 per cent respectively.

In terms of sales by sector, the leather goods and saddlery metier led with a 20 per cent increase, driven by very high demand. The ready-to-wear and accessories sector also showed strong performance, with a 16 per cent growth. The silk and textiles sector, supported by the continuous innovation in its men’s and women’s collections featuring a variety of formats and outstanding materials, grew by 8 per cent.

“The solid sales growth in the first quarter of FY24 reflects the loyalty of our clients worldwide, the strength of the group’s artisanal model and the desirability of our creations in a more complex environment. Hermes pursues its strategy based on exceptional know-how, the finest materials and uncompromising quality,” said Axel Dumas, executive chairman of Hermes.

Fibre2Fashion News Desk (DP)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search