Hermès news and archive

Luxury shares tumble as Richemont posts sales decline

Swiss luxury conglomerate Richemont, owner of such brands as Cartier, Chloe, and Alaïa, experienced a sharp 6 percent drop in its share value this week, after announcing weaker-than-anticipated earnings. The company reported quarterly sales of 2.2 billion euros, falling short of analysts' projections of 2.45 billion euros, with profits marking a...

Business

Hermès Q3 sales grow amid luxury market challenges

Hermès group’s consolidated revenue amounted to 11.2 billion euros at the end of September, up 14 percent at constant exchange and 11 percent at current exchange rates compared to the same period in 2023. In the third quarter, sales reached 3.7 billion euros, up 11 percent at constant exchange and 10 percent at current exchange rates. Commenting...

Video

Video: Hermès SS25

Watch Hermès’ runway show at Paris Fashion Week showcasing their SS25 collection. Video: Hermès via YouTube Promotion Read more about Hermès on their brandpage

Fashion Featured

Hermès chief rebuffs LVMH comparisons as luxury landscape shifts

Hermès executive chairman Axel Dumas is distancing his company from comparisons with luxury giant LVMH, despite both firms' French heritage and family ties. "We don't sell the same products [as Louis Vuitton], so surpassing their size is not a goal as such," Dumas told Fortune in a recent interview. This stance comes as Hermès outperforms the...

Business

Hermès heir Nicolas Puech alleges 12 billion euro fraud

The Hermès inheritance is once again in the limelight: heir Nicolas Puech has alleged a 12 billion euro fraud. As reported by Milano Finanza, the descendant of the fashion house accused asset manager Eric Freymond of misappropriating 6 million shares belonging to him, equivalent to a 5.7 percent stake. At current market value, this shareholding...

BusinessFeatured

Hermès Q2 sales increase 13 percent amid luxury slowdown

Consolidated revenue in the first half of 2024 at Hermès amounted to 7.5 billion euros, up 15 percent at constant exchange and 12 percent at current exchange rates. In the second quarter, group sales reached 3.7 billion euros, up 13 percent at constant exchange rates. Recurring operating income was 3.1 billion euros and net profit reached 2.4...

Business

Hermes v Hermes: Turkey bookshop marks win in copyright fight

A bookseller in Turkey notched a victory over a French luxury house in a copyright battle to be able to call itself Hermes, the shop's lawyer said Tuesday, hailing an infrequent win against a major brand. An Ankara court ruling partially voided a decision by TurkPatent, Turkey's intellectual property authority, that prevented any brand other...

Business|Background Featured

The silent luxury giant Hermès and the loud legal battle over the Birkin bag

French fashion house Hermès has not only made headlines recently for its continued growth, but has also been in the public eye for its ongoing legal battles. The disputes surrounding the iconic Birkin bag not only delve deep into the digital realm, but also raise questions about artistic freedom and whether there is a right to luxury. Trademark...

BusinessFeatured

First quarter luxury earnings show brands' strengths and weaknesses

French luxury conglomerates serve as bellwethers for the wider industry, and the first-quarter revenue results have provided insight into both the strengths and weaknesses of the sector, shedding light on the preferences and behaviours of luxury consumers worldwide. While certain companies exceeded analysts' expectations, others experienced a...

BusinessFeatured

Hermès records strong Q1 growth

The Hermès Group’s consolidated revenue amounted to 3,805 million euros in the first quarter of 2024, up 17 percent at constant exchange and 13 percent at current exchange, driven by strong growth in all geographical areas. In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an...

CultureFeatured

Milan Design Week is dominated by fashion takeovers

Milan's annual Salone del Mobile furniture and interiors fair has transformed into the premier global design destination. Against the vibrant backdrop of Italy's fashion capital, a plethora of brands and retailers across the design spectrum offer unparalleled experiences, collaborations, activations, events, and, of course, soirées, transforming...

Investors brace for luxury slowdown in Q1

Investors are bracing for a notable downturn in luxury sales as companies prepare to release their first-quarter results, reflecting weakened demand from China, reported Reuters. Kering's unexpected forecast of a 10 percent decline in first-quarter sales, contrasting with the 3 percent anticipated by analysts, has already cast a shadow over the...