Hermes Fragrance up 18% in First Three Quarters
- Chaileedo Press
- Oct 21, 2022
- 2 min read
Updated: Oct 21, 2022
Hermes had a strong sales performance in all regions in the first three quarters of 2022.
On October 20, Hermes Group announced financial data for the first three quarters of 2022. Hermes' consolidated revenue for the first three quarters was 8,611 million euros (approximately $8,387 million), up 24% year-on-year at constant exchange rates. Hermes sales in the third quarter were 3,136 million euros (approximately $3,054 million).
For the first three quarters of 2022, Hermes performed strongly in all geographic regions. Asia continued its strong growth momentum, rising 21% year-on-year to 4,242 million euros ($4,131 million) compared to last year. Sales in Greater China remained strong despite the temporary closure of stores in Macau, Chengdu, and Dalian in July and August due to epidemic prevention and control measures.
Axel Dumas, Global CEO of Hermes, said that the strong growth in the third quarter is a reflection of the global customer interest in the Group's products and the importance of the brand's values. Hermes moving forward with confidence and caution while continuing to develop an integrated model, rooted in France and committed to job creation.
Specifically in the Fragrance & Beauty segment, the segment grew 18% year-on-year to 344 million euros ($335 million) in the first three quarters. The growth was mainly driven by the success of new products such as H24 with its new botanical fragrance.
The beauty line also launched a limited edition of new products for Fall/Winter 2022, including three lipsticks and two nail polishes.
In addition, Hermes recently added another unexpected product to its beauty lineup, Cabriole, a non-alcoholic fragrance specifically for children. the scent is known to be accompanied by notes of fresh honeysuckle scent accompanied by notes of sandalwood and apricot, and the design is designed to evoke the scent of a child’s cheek. The product is currently available for order at Hermes stores for $105 a bottle.
In the report, the Hermes Group said that it is still difficult to assess the impact of public health, and economic and geopolitical implications for 2022. However, Hermes remains confident about the future development of the world market.
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