Consolidating its position as a market leader, French luxury powerhouse Hermes capped off a stellar year with record sales and profits.
The brand’s net profit surged by 28 per cent to €4.3 billion in 2023. Its sales increased by 16 per cent to €13.4 billion. The brand registered a strong growth across all regions including Asia, Europe and Americas. It continues to outperform competitors like LVMH and Kering, despite global uncertainties.
The group announced a €4,000 bonus for its 22,000 employees worldwide as part of "its policy of sharing profits with all those who contribute to it on a daily
The brand’s success was fuelled by a strong demand for luxury goods, particularly in Asia. Its performance sets a high bar for the luxury goods industry with companies needing to adapt strategies to keep pace with Hermes' growth trajectory.