Driven by all segments, Hermes revenues rise 19 percent in Q1

Wednesday, 29 April 2015

REPORT Consolidated revenues at Hermes amounted to 1,122.2 million euros (1,236.7 million dollars) in the first quarter, up 19 percent at current exchanges rates. Before adjustment for the positive currency effect, growth was 8 percent at constant exchange rates. The group's stores posted an increase in sales of over 10 percent at constant exchange rates.

During the first quarter 2015, all the regions progressed. Japan continued its growth with 15 percent rise, Asia excluding Japan posted an 8 percent increase, America too confirmed its potential for development with a 10 percent growth. Europe with over 5 percent increase, which extended and renovated the Bond Street store, continued to grow, particularly in group stores, both in France and in other countries in the region.

Demand for leather goods and saddlery products with over 12 percent increase remained high. The ready-to-wear and accessories division posted over 10 percent increase. The silk and textiles business line, whose range is expanding reported a 6 percent rise. After launching Jour d’Hermès Absolu and Terre d’Hermès eau très fraiche early in 2014, the perfumes division recorded a slight increase of 1 percent. Watches, which were down 3 percent, presented the new Slim d’Hermès model at the Basel watch fair. Driven by jewellery, other Hermès business lines grew 8 percent.

Despite the economic, geopolitical and monetary uncertainties around the world, the company aims to achieve revenue growth in the middle term at constant exchange rates of 8 percent.

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