Hermes Perfume and Beauty Up 10% in H1

Hermes gained strong momentum in Greater China and throughout the region.

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Hermes, the French luxury goods manufacturer, reported strong financial results in its latest report.

The company's consolidated revenue in the first half of 2023 amounted to €6,698 million, representing a 25% increase at constant exchange rates and a 22% increase at current exchange rates compared to the same period in 2022. The recurring operating income reached €2,947 million, which accounts for 44% of sales, while the net income (group share) was €2,226 million, representing 33% of sales.

In the second quarter of 2023, sales reached €3,317 million, reflecting a 28% increase at constant exchange rates and a 22% increase at current exchange rates, with strong momentum across all business lines and regions.

The Perfume and Beauty division continued to grow, up 10% year on year, with the launch of a new Eau de toilette, Un Jardin à Cythère. Hermès launched a new limited edition of Rouge Hermès ahead of the arrival this autumn of the fifth chapter of Beauty around the eyes.

In Asia, excluding Japan, sales increased by 28%, with strong momentum in Greater China and throughout the region. The company's second quarter benefited from a favorable comparison basis year on year, and the Peninsula store in Beijing reopened in April after renovation and extension.

Axel Dumas, Executive Chairman of Hermès, said: “The 2023 first half results reflect the strength of the pillars of the artisanal model of the house: quality of materials, exceptional know-how and abundant creativity. To support this growth, we continue to invest in our production capacities, in the expansion of our network, while accelerating job creation and training in all of the group’s métiers.”