2024-02-09 18:56:11
Front of a Hermès store at Taoyuan International Airport, Taiwan. MAREK SLUSARCZYK/Tupungato – stock.adobe.com
DECRYPTION – The saddler shows the strongest growth in the sector, thanks to its positioning at the top of the luxury pyramid. He is preparing to increase his prices again.
Whether the global luxury market is experiencing galloping growth, as between 2020 and 2022, or whether it is moving at a steady pace, like last year, Hermès always manages to move much faster than its rivals.
In 2023, the saddler even took advantage of the market slowdown to widen the gap even faster with the majority of luxury houses. While signs of weakening were felt in North America in the second part of the year and the recovery in China was less strong than expected, Hermès still seems insensitive to the ups and downs of the global economic situation.
Perfectly balanced
Driven by strong demand for all its product categories, from bags and silk scarves to jewelry, watches and other decorative objects, its turnover jumped 20.6% last year, to 13 .4 billion euros. Its operating profit increased from 4.7 to 5.6 billion euros, showing a historically high operating margin of 42.1%.
Read alsoHermès leader of the CAC 40 after robust annual results
Perfectly…
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