PARIS, April 17 – French luxury house Hermes (HRMS.PA) reported a 9% year-on-year rise in first-quarter (Q1) revenue to €4.1 billion ($4.37 billion), driven by resilient global demand and strong client loyalty across key regions. At constant exchange rates, revenue rose 7%, the company said in a statement on Wednesday.
Growth was led by Japan, which posted a 17% sales increase, while the Americas grew 11%, with the United States showing strong momentum in March. Europe excluding France and the domestic market both recorded a 13% rise, bolstered by robust local demand and increased tourist activity.
Sales in Asia excluding Japan edged up 1%, reflecting the impact of store renovations. Key reopenings in Taichung, Taiwan, and Bangkok supported regional performance. Sales in the “Other area,” which includes the Middle East, advanced 14%, extending the region’s upward trajectory.
By segment, the Leather Goods and Saddlery division posted a 10% increase, driven by sustained demand and the introduction of new models such as the Medor and Mousqueton bags. The company continued expanding production capacity, with a new workshop opening this year in L’Isle-d’Espagnac and further sites planned for 2026 and 2027. Ready-to-wear and accessories grew 7%, while silk and textiles gained 5%, supported by vibrant designs and varied formats across collections.
“In a complex geopolitical and economic context, the house is strengthening its fundamentals more than ever,” said Axel Dumas, executive chairman of Hermes. “Despite a high comparison basis in the first quarter, the group achieved solid growth in sales, thanks to the trust of its customers and the commitment of the teams.”
The group reaffirmed its medium-term objective for revenue growth at constant exchange rates, citing a strong artisanal model, integrated supply chain, and continued innovation as key advantages.
Hermes also reiterated its commitment to sustainable growth. It will distribute more than €500 million in profit-sharing to employees in 2025, acknowledging their role in the company’s 2024 performance. The group updated its climate strategy earlier this year, reinforcing efforts to decarbonize operations, enhance energy efficiency, and work with suppliers to cut scope 3 emissions. Hermes remains on track to meet its 2030 climate goals, validated by the Science Based Targets initiative (SBTi).
