Continued growth for Hermès in Q3

France
Published:  22 October, 2021
Credit: Hermès

In the third quarter of the current financial year, the French fashion group saw sales growth of 31% at constant exchange rates compared to 2020 and reached 40% over two years.

Sales benefited from an upturn in Europe, an acceleration in America and a sustained growth in Asia.

The group’s leather goods and saddlery division saw growth of 46%, benefiting from significant deliveries and sustained demand in the third quarter. The maroquinerie de Guyenne (Gironde), Hermès’ 19th leather goods workshop, opened in September, while the group has the following in the pipelines: Louviers site (Eure) planned for 2022, Sormonne site (Ardennes) for 2023 and a new site in Riom (Puy-de-Dôme) for 2024.

Axel Dumas, Executive Chairman of Hermès, said: "The performance of the third quarter reflects an atypical year, during which we continue our strategic investments and accelerate job creations. In a world that remains unstable, the balance between our sixteen métiers and between our locations around the world allows us to move forward with optimism and caution, while continuing to create beautiful, high quality sustainable objects."