Hermès news and archive

The Fashion Pact faces key departures as H&M assumes leading role

The Fashion Pact, an initiative launched four years ago with the aim of driving environmental change in the fashion industry, is now grappling with the departure of several influential members, coinciding with H&M's ascension to a prominent position within the coalition. Renowned luxury retailers Hermès and Selfridges have recently withdrawn...

ManagementFeatured

Hermès posts 22 percent increase in Q1 sales

The Hermès group's consolidated revenue reached 3.38 billion euros in the first quarter of 2023, up 23 percent at constant exchange rates and up 22 percent at current exchange rates. The company said that the sales were particularly dynamic in all geographical areas and across all the business lines. In the medium-term, despite the economic,...

Fashion

New leather goods factories will help Hermès meet handbag demand

As demand for its luxury handbags soars, Hermès has opened three leather goods factories in France where the Paris-based house can beef up production of its Kelly and Constance bags. With supply chain woes affecting all areas of the fashion industry, Hermès has invested heavily in local manufacturing to increase its output in order to meet...

Business

Hermès surpasses 200 billion euro valuation

Hermès has seen its valuation surpass the 200 billion euro mark, making it the eighth-most valuable company across the pan-European Stoxx 600 index. As the second most valuable luxury company in the world, it falls behind LVMH, which is valued at 459 billion dollars. The luxury sector has remained buoyant throughout the war and global recession,...

Fashion Featured

Hermès bets on expanding its beauty range

After sales of its beauty and perfume soared 15 percent last year, Hermès is expanding the category with new products. Hermès debuted its first fragrance in the 1950s, but perfume only accounts for 4 percent of total revenue, while leather goods accounts for nearly half. With a new focus on beauty, Hermès is tapping into a lucrative category,...

BusinessFeatured

MetaBirkins saga continues: Rothschild potentially seeks new trial against Hermès

In what is turning out to be a long-winded back-and-forth of various claims, the MetaBirkins case has moved onto the next phase of the legal battle against artist Mason Rothschild and luxury brand Hermès. In the latest development, Rothschild has now filed two court submissions in a bid to regain some control of the situation. Last month, the...

Business

Hermès requests court to block sales of MetaBirkin NFTs

Hèrmes International has doubled down on its efforts to halt the sales of Mason Rothschild’s ‘MetaBirkin’ non-fungible tokens (NFTs) following a court case between the duo that saw a jury rule in favour of the French luxury house. Last month, Hèrmes took Rothschild to court over the sale of the NFTs, which bear a resemblance to the brand’s...

Business

Sharing is caring: Hermès pays all employees €4,000 bonus

After a stellar year of growth at Hermès, where sales increased in four consecutive quarters, the Paris-based luxury house is sharing the windfall with its employees. After also upping the dividend for its shareholders with 63 percent, it is one of the company's highest ever payouts. With sales surging more than 20 percent to 11.6 billion euros...

ManagementFeatured

Hermès sales and profit boosted by robust growth across core markets

The Hermès group’s consolidated revenue amounted to 11,602 million euros in 2022, up 29 percent at current exchange rates and 23 percent at constant exchange rates compared to 2021. In the fourth quarter 2022, the sales momentum recorded at the end of September continued, with sales reaching 2,991 million euros, an increase of 26 percent at...

Report

Hermes rides luxury boom to record profits

Hermes posted record annual profits and sales on Friday, riding a luxury boom while faring better than its rivals in China in the last quarter of 2022. France's high fashion houses have posted bumper earnings despite high inflation that has caused a cost-of-living crunch in many countries. Hermes said net profit reached 3.4 billion euros (3.6...

BusinessFeatured

What does the outcome of Hermès’ NFT trial mean for the future of digital artwork

The boundaries of non-fungible token (NFT) art were put to the test last week, in a trial that saw digital creation come head-to-head with the codes of luxury fashion. In the end, it was the latter that came out on top. Hermès won the highly anticipated trial against Mason Rothschild, an artist who the house had accused of trademark infringement...

Fashion Featured

Hermès wins MetaBirkins Trial

Hermès has won its infamous MetaBirkin case, with an American federal court citing artist Mason Rothschild's sale of NFTs infringed Hermès trademarks, even in the digital realm of a largely unregulated metaverse. A jury of 9 persons awarded damages of 133,000 dollars in favour of Hermès, which included profit of NFT sales and 23,000 dollars for...