Hermes achieves double-digit sales growth in fourth quarter

Hermes has posted double-digit sales growth for the fourth quarter and the full fiscal year, which management described as a solid performance in an “uncertain” environment.

The company’s revenue surged 18 percent to €4 billion (US$4.2 billion), both on a reported and constant currency basis, during the quarter ended December 31. This extended the 11.4 percent uplift in the third quarter.

Sales in Asia excluding Japan were up 10 per cent despite the downturn in traffic in Greater China. In Japan, sales jumped 20 per cent driven by the loyalty of local clients.

The Americas rose 21.4 percent, while Europe increased 16.9 percent.

For the full year, revenue rose 13 percent (15 percent in constant currency) to €15 billion, and consolidated net profit increased 7 percent to €4.6 billion.

“In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermes model and the agility of the house’s teams,” said executive chairman Axel Dumas.

“While preserving the group’s major balances and its responsibility as an employer, the house is staying the course, attached more than ever to its fundamental values of quality, creativity and savoir-faire,” he added.

The company expects to record continued revenue growth in the medium-term despite the economic, geopolitical and monetary uncertainties.