PARIS (AFP) – French luxury giant Hermes posted yesterday their record annual sales and net profit, with plans to reward all employees worldwide with a bonus following strong growth in every region in 2023.
The group reported a profit of EUR4.3 billion, up 28 per cent from 2022, on sales that surged 16 per cent at current exchange rates to EUR13.4 billion.
“In 2023, Hermes has once again cultivated its singularity and achieved an outstanding performance in all metiers and across all regions against a high base,” executive chairman Axel Dumas said in an earning statement.
The group said all employees worldwide would get a EUR4,000 bonus early this year as part of “its policy of sharing the fruits of growth with all those who contribute to it on a daily basis”.
Hermes said sales rose by 14.5 per cent in Japan and 12.9 per cent in the rest of the Asia-Pacific region, with the group opening its 33rd store in China, a major market for luxury brands.
Japan and Asia-Pacific together were the biggest market for Hermes, with total sales of EUR7.5 billion.
Sales rose 19 per cent to EUR3 billion in Europe and 17.1 per cent to EUR2.5 billion in the Americas.
The company said it would propose to increase dividends to EUR15 per share, up from EUR13 in 2022, at its next general meeting in April.
