A slight decline in its watch sales for 2024 but saw strong growth in other sectors, particularly in jewelry.
The French luxury brand announced a 15 percent increase in revenue across all sectors, including apparel, leather goods, beauty, and perfume, with total earnings reaching $15.9 billion (EUR 15.2 billion). The company described this as an “outstanding” performance.
Its “other” category, which includes jewelry and home goods, saw a 17 percent increase in revenue. However, Hermès did not provide further details on the breakdown of this growth.
In contrast, the watch sector faced challenges, with a 4 percent decline in revenue. Hermès attributed this drop to a more difficult market environment and a high comparison base from the previous year.
Axel Dumas, Hermès’ executive chairman, commented, “In 2024, despite an uncertain economic and geopolitical landscape, the solid performance of our results highlights the strength of the Hermès model and the agility of our teams.”
The brand saw its largest growth in Japan, where sales increased by 23 percent, followed by Europe with a 19 percent increase and the Americas, which saw a 15 percent rise in sales.
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