French luxury firm Hermes` surpasses pre-pandemic figures in H1

Fashion

06 Aug `21

2 min read

With sharp rebound in sales and high inventory flow rate, the French luxury goods manufacturer Hermes International has surpassed pre pandemic levels with 33 per cent increase in sales to €4.2 billion in first half (H1) FY21 against FY19 and 77 per cent from last year. Operating income for the six-month period mounted to €1.7 billion (H1 FY20: €535 million).

With sharp rebound in sales and high inventory flow rate, the French luxury goods manufacturer Hermes International has surpassed pre pandemic levels with 33 per cent increase in sales to €4.2 billion in first half (H1) FY21 against FY19 and 77 per cent from last year. Operating income for the six-month period mounted to €1.7 billion (H1 FY20: €535 million).#

Net profit expanded to €1.2 billion (€335 million), representing 28 per cent of the total sales. The group's store sales rose 81 per cent against last year, and 41 per cent compared to 2019. Wholesale activities picked up with 46 per cent growth but remained penalised particularly by travel retail.

With sharp rebound in sales and high inventory flow rate, the French luxury goods manufacturer Hermes International has surpassed pre pandemic levels with 33 per cent increase in sales to €4.2 billion in first half (H1) FY21 against FY19 and 77 per cent from last year. Operating income for the six-month period mounted to €1.7 billion (H1 FY20: €535 million).#

“The results for the first half of the year have been exceptional in nature. But this performance also reflects the momentum and resilience of our model, which puts people, the source of creativity and innovation, as well as the requirement for absolute quality, at its core. These are the key factors of our artisanal approach and the desirability of our objects,” Axel Dumas, executive chairman of Hermes, said in a press release.

Favourite Print this story Comments Submit Press Release