Luxury leather goods brand Hermès has reported its financial results for the first half of 2024, when consolidated revenue was up 15% at constant exchange rates (12% at current exchange rates) to €7.5 billion.

Credit: Hermès

Sales for the second quarter totalled €3.7 billion and were up 13% year-on-year at constant exchange rates.

For H2, the company noted that Asia (excluding Japan) was up by 10% with growth in every country. Meanwhile, Japan was up 22%, continuing strong growth alongside a new store for the brand. The Americas were up 13% with sustained growth, while sales in Europe grew by 18% (excluding France) and revenue in France improved by 15%.

Looking at the results by sector, leather goods and saddlery had the strongest growth for the period at 19%, while ready-to-wear and accessories grew by 15%, silk and textiles was up 1%, perfume and beauty climbed 5%, watches remained flat and the remaining other sectors grew by 19% (including jewellery).

Hermès ended the period with recurring operating income up by 7% year-on-year to €3.1 billion, while consolidated net profit totalled €2.4 billion, up €0.2 billion on the same period of 2023.

Executive Chairman Axel Dumas said: “The solid first-half results, in a more complex economic and geopolitical context, reflect the strength of Hermès’ model. The group is confident in the future and is continuing to invest, to pursue its vertical integration projects and to create new jobs, while remaining true to its values.”