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Hermès sales grow in all areas and regions in the first quarter of 2022

Camilla Rydzek
19 April 2022

Luxury brand Hermès has noted "strong" growth in all geographical areas reaching consolidated revenues of £2.3 billion (€2.8 billion) in the first quarter of 2022. 

Hermès noted that sales had increased by 28% in all group stores against the previous year and highlighted its performance in the European and American markets and that it had seen worldwide online sales rise.

Hermès sales by region:

  • In Europe, excluding France, it saw a 44% increase, with "sustained growth" recorded in the UK, Germany, Italy and Spain.
  • In Asia, excluding Japan, the group saw a 20% increase highlighting sustained activity in Thailand, Singapore, and Australia.
  • In Japan it saw a 17% increase.
  • In the American market it saw a 44% increase in sales and highlighted growth in the US particularly.
  • In France it saw a 40% increase.

Hermès noted that it had invested in store openings and extensions, including reopening its Pacific Place location in Hong Kong, One Central in Macao and South Coast Plaza, and that it had opened its first store in the Henan region in China.

Hermès sales by category:

  • 16% growth in Leather Goods and Saddlery.
  • 44% growth in Ready-to-Wear and Accessories business line.
  • 27% growth in Silk and Textiles business line.
  • 18% growth in Perfume and Beauty.
  • 62% increase in Watches.
  • 37% increase in other business lines including Homeware and Jewellery.

Hermès Beauty unveiled its fourth beauty chapter called Plein Air in early March this year and added its Perfume and Beauty CEO to its executive committee. 

In its outlook for 2022 Hermès said that the impacts of the global pandemic was difficult to asses but that in the medium-term "despite the economic, geopolitical and monetary uncertainties around the world" it would follow its goal to increase revenue growth.

Axel Dumas, Executive Chairman of Hermès, said: “The strong growth in sales at the beginning of this year reflects the desirability of our collections and the confidence of our customers in our artisanal and responsible approach. Despite a still uncertain context, the group is accelerating its strategic investments, recruitments and training to support the growth of all the métiers of the house.”

In the financial year ending 31 December 2021 Hermès had reported "outstanding performance", with revenues reaching £7.5 billion (€9 billion). 

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