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The global fashion business journal

Aug 7, 202011:08am

Hermès on a ceaseless rise: 15% growth and 8.7% increase in earnings in 2019

The French luxury company has registered a revenue of 6.9 million euros (7.5 billion dollars) in the last year. The group’s profit reached 1.5 billion euros (1.6 billion dollars).

Feb 26, 2020 — 5:03pm
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Hermès on a ceaseless rise: 15% growth and 8.7% increase in earnings in 2019

 

 

Hermès, on the rise in 2019. The French luxury company has finished the 2019 financial year with an increase in sales and surging results. The company registered a profit of 1.5 million euros (1.6 billion dollars) in the period, up by 8.7%.

 

Meanwhile, the company’s sales grew by 15.3% in 2019, to 6.9 million euros (7.5 billion dollars). The progression of the company has been driven by sales in the Asian market, where Hermès’ revenues rose by 15.3%.

 

The company also experienced a positive evolution in the rest of the markets where it operates. In France, its local market, the group has registered a growth of 8.1%, the rest of Europe equally mirrors similar results with the exact same growth rate as France. As for the American market, the company’s income rose by 12%.

 

 

 

 

By divisions, accessories and clothing have grown the most during the period, registering a 17% increase over the previous year. The group’s leather business has registered an increase of 11.3% in 2019, while the perfume division was up by 8.5%.

 

“This momentum is due to the integration of the distribution network and the broad creativity of our workers,” said Axel Dumas, the company’s chief executive, in a statement.

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