Hermes reports strong earnings and profit growth in 2021

In 2021, the Hermes Group’s consolidated sales were, 8,982 million, up 42 percent from the fixed exchange rate and 41 percent from the current exchange rate compared to 2020. In two years, the company said in a news release, the increase was 33. Percentage of fixed exchange rates in the first and second half of the year.

Operating profit rose 78 percent to 3, 3,530 million, with sales up 39.3 percent. Net profit was 2,445 million euros, 77 percent higher than in 2020.

Axel Dumas, Managing Director of Hermes, said of the business performance: “I am especially thankful for the enthusiasm and quality of our team’s work because we have made 2021 an exceptional year. Abundance of creativity, unique knowledge and quality. Products have driven the growth of our sixteen categories.”

Hermes reports sales growth across all geographical areas

The company said that Asia and the United States recorded higher growth rates against 2020 and 2019, while Europe returned to growth against 2019. And 41 percent in two years. Total sales are up 24 percent.

Sales in Asia, excluding Japan, increased by 45 percent and 65 percent in two years. Shanghai Plaza 66, Suzhou and Ningbo reopened after renovations and expansion, following the China World Store in Beijing in the spring, with new stores opening in Macau and Shenzhen. In Australia, the Brisbane store reopened after expansion.

In Japan, revenues have increased by 25 percent and 20 percent in two years. In February, a new store opened on Omotesando Avenue and the Shinjuku Isetan store in Tokyo was renovated in November after expansion work.

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Sales in the United States have risen 57 percent and 24 percent in two years. Two new stores opened in Troy near Detroit in June and Aventura Mall near Miami in October. Excluding France, Europe has grown by 37 percent and 10 percent in two years. Many Hermes stores were renovated and expanded, with Zurich relocating in May, Milan in July and Istanbul in October, and the Luxembourg store in November.

In two years, France has recorded a 35 percent increase and a 3 percent decline. The stores in Lyon and Rue de Sevres in Paris were renovated and reopened and then reopened in February and March.

Hermes business taxes record revenue growth

By the end of December 2021, all businesses had confirmed their growth, with an increase in other Hermes business lines such as readymade garments and accessories, watches and jewelry and household goods.

In the leather goods and saddle segment, turnover increased by 29 per cent and 23 per cent in two years. Productivity expansion continued with the opening of the Louviers site in 2022, the Sormonne site in 2023 and a new site in Riom in 2024.

The readymade garments and accessories segment grew by 59 per cent and 44 per cent in two years. Perfume and cosmetics products rose 47 percent and 19 percent in two years, and watch sales increased 73 percent and 77 percent in two years. Other Hermes business taxes have risen 57 percent and 95 percent in two years.

Hermes said a dividend of EUR 8 per share would be proposed at a public meeting on April 20, 2022. The interim dividend of 2.5 euros due on February 23, 2022 will be deducted from the dividend approved by the General Assembly.

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This article was first published in FashionUnited.UK and later translated into Dutch by Ilona Fonteijn.

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