15% growth for Hermès: record year in 2024
Despite a mid-year slowdown, Hermès posted an exceptional performance in 2024, with sales up 15% to €15.2 billion. Growth was underpinned by dynamic year-end sales and strong international expansion.
Solid financial results at Hermès
The year 2024 confirmed the resilience and power of the Hermès brand. Sales reached 15.2 billion euros, with growth of +18% in the fourth quarter, a spectacular rebound after a slight decline in the middle of the year. Operating income stood at 6.2 billion euros, or 40.5% of sales, a level slightly below that of 2023 (42.1%).
Balanced global expansion
Hermès continued its international expansion, despite a changing luxury goods market. In Asia, excluding Japan, the brand recorded moderate growth of +7%, impacted by the slowdown in consumption in China. By contrast, Japan posted an impressive +23% increase, while America and Europe followed with rises of +15% and +19% respectively. In France, sales rose by +13%, confirming the public’s attachment to the House’s timeless elegance.
Leather goods top the sales charts
Leather Goods and Saddlery, Hermès’ emblematic sector, is standing out with growth of +18%, thanks to ever-increasing demand. To meet this demand, Hermès has inaugurated a new leather goods factory in the Puy-de-Dôme region of France, and plans to open three more by 2027.
Clothing and Accessories grew by +15%, while Silks and Textiles posted more moderate growth of +4%. Watches, on the other hand, declined by -4%, reflecting the slowdown in the luxury goods market. The Perfumes and Beauty segment recorded a fine performance of +9%, thanks in particular to the success of Barénia perfume and the extension of the make-up line.
Hermès, the company that rewards its employees
Alongside these excellent results, Hermès continues to reward its employees. The company has announced an exceptional bonus of 4,500 euros for its employees. With 25,000 employees worldwide, including 15,556 in France, the brand is reinforcing its commitment to employment, having created over 7,000 jobs in three years.
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