28 October 2021

Leathergoods - Growth for Hermès in ‘unstable world’

Luxury group Hermès has reported revenues of €6.6 billion for the first nine months of 2021. This figure means growth of more than 50% compared to the same period in 2020 and of 35% compared to the first nine months of 2019, reports Leatherbiz.

Leathergoods contributed just over €3 billion to the 2021 total, growing by more than 40% year on year. Compared to the same period in 2019, this figure represents an increase of more than 30%.

Commenting on the results, executive chairman, Axel Dumas, said: “In a world that remains unstable, the balance between our artisanship and our locations around the world, allows us to move forward with optimism and caution, while continuing to create beautiful, high-quality, sustainable objects.”

He said Hermès would continue with its strategic investments and accelerate its job creation. Halfway through 2019, the group had 14,750 employees. At the same point in 2021, its workforce was just under 17,000.

It opened a new leathergoods workshop at Guyenne, near Bordeaux, in September, its nineteenth such facility. Its plans to open further leathergoods workshops at Louviers in 2022, at Sormonne in 2023 and Riom in 2024 remain firmly in place.

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