Strong Growth in Hermes Jewelry Sales
February 16, 25
(IDEX Online) - Hermes reported a dip in watch sales last year, but "strong growth" in the sector that includes jewelry.
The French luxury group reported a 15 per cent increase (at constant exchange rates) in its 2024 revenue across all sectors (apparel, leather goods, beauty, perfume) to $15.9bn (EUR 15.2bn) in what it said was an "outstanding" performance.
Its "other" sector which includes jewelry and home goods, recorded a 17 per cent increase. Hermes does not provide a more detailed breakdown.
It said its watches sector had been "penalised by a more challenging context and a high comparison basis," and had seen revenue down by 4 per cent during the year.
Axel Dumas, executive chairman said: "In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermes model and the agility of the house's teams."
Sales overall saw the biggest increase in Japan (up 23 per cent), followed by Europe (up 19 per cent) and The Americas, (up 15 per cent).
Pic courtesy Hermes.