The French luxury group delivered strong regional performance, with double-digit growth in the Americas (+17%), Japan (+10%) and Europe excluding France (+10%). Asia (excluding Japan) rose 2%, while France declined 3% amid weaker tourist flows linked to geopolitical tensions in the Middle East. The “Other” region, including the Middle East, fell 6%, reflecting disruption in the region.
By business line, Leather Goods and Saddlery led growth (+9%), supported by sustained demand and expanded production capacity. Silk and Textiles rose 8%, while other Hermès sectors, including jewellery and home, grew 7%. Ready-to-wear and Perfume and Beauty were stable, while Watches declined 4% in a challenging market.
Retail sales increased 7%, despite reduced tourist flows, while wholesale activity was negatively impacted by lower sales in concession stores, particularly in travel retail and the Middle East.
During the quarter, Hermès continued investing in production, opening a new leather goods workshop in Loupes, France, and outlining further site expansions through 2030.
Executive Chairman Axel Dumas said the group remained confident despite a “tense geopolitical environment”, citing the strength of its long-term strategy, creativity and client loyalty. Hermès confirmed its medium-term ambition for revenue growth at constant exchange rates, supported by its integrated artisanal model and global demand.
