Hermès reports strong 2013 growth

By Doug Newhouse |

Luxury fashion house Hermès has reported strong sales growth of +13% in 2013 with revenue of €3,754.8m.


The company says the rise was 7.8% after adjusting for the negative impact of currencies, primarily due to the weakness of the Yen.


In the fourth quarter, growth remained strong (+11.0% at constant exchange rates) despite a particularly high basis for comparison.


The annual revenue generated by the group’s own stores rose by 13%. Hermès continued to qualitatively expand its distribution network with the launch of boutiques in Beverly Hills (USA), Ningbo (China) and Nagoya Mitsukoshi (Japan).


In Italy it successfully opened its new store in Milan, which is located on the famous Via Montenapoleone. At the end of the year, an outlet in Hangzhou, China, was also opened.


The famous Birkin Bag from Hermès.



The company said: “Non-Japan Asia (+16%) and America (+14%) were particularly dynamic. Japan (+7%) posted a very good performance. Europe (+12%) saw sustained activity in all countries despite a difficult financial climate.


Leather Goods and Saddlery (+9%), for which demand remains very high, is continuing to expand its collections and develop its production capacities, particularly with the increased activity of the two workshops that opened in Isère and Charente in 2012 and plans to create two new premises in the Franche- Comté region.


“The Ready-to-wear and Accessories Division (+18%) benefited from the dynamism in accessories and the latest ready-to-wear collections, which celebrated this year’s theme ‘A sporting life’.


“The Silk and Textiles (+12%) sector posted a good performance through the extended offering of new materials and new formats.”


Perfumes (+15%) confirmed their momentum in 2013. The new fragrance for women Jour d’Hermès did well while Terre d’Hermès continued its growth.


Following an exceptional year in 2012, Watches (+1%) were affected by the slowdown in the Chinese market. Other Hermès sectors showed good progression (+37%) with jewellery making a significant contribution.


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