The French luxury fashion house Hermès International was able to achieve strong growth in sales and earnings in the 2022 financial year. Executive Chairman Axel Dumas said in a statement published on Friday that the company had had an “outstanding year” “mainly thanks to good results in its international markets”.
Overall, sales last year amounted to 11.6 billion euros. It thus exceeded the level of 2021 by 29.2 percent. Adjusted for exchange rate changes, revenues increased by 23.4 percent. In the final quarter, too, Hermès was able to keep up the pace of growth despite difficult conditions and achieve a sales increase of 25.7 percent (currency-adjusted +22.9 percent) to 2.99 billion euros.
In the financial year as a whole, the fashion house achieved double-digit growth in all market regions. In France, sales increased by 26.9 percent to 1.06 billion euros, in the rest of Europe by 17.9 percent (currency-adjusted +18.4 percent) to 1.54 billion euros. Sales in Asia were EUR 6.66 billion, up 27.4 percent (currency-adjusted +21.5 percent) on the previous year, in America they grew by 46.6 percent (currency-adjusted +31.6 percent) to 2, 14 billion euros.
Thanks to higher margins, profit rose even faster than sales. Operating profit was almost 4.70 billion euros, an improvement of 33.1 percent, and net profit attributable to shareholders increased by 37.7 percent compared to 2021, reaching 3.37 billion euros.