Hermès has continued to outperform the ailing luxury sector with strong sales in the last months of 2024, as the maker of coveted Birkin bags showed once again that it is one of the industry’s most resilient names.
The company said revenues rose 17.6 per cent in the fourth quarter to €3.96bn, well ahead of consensus forecasts compiled by Bloomberg. The Paris-listed group said sales grew by at least double digit percentages in every major region with the exception of Asia Pacific excluding Japan, where growth was 8.9 per cent — also outstripping consensus — amid a very depressed market for luxury.
“In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermès model and the agility of the house’s teams,” said executive chair Axel Dumas.
The high-end luxury house said recurring operating income in 2024 was €6.15bn, slightly ahead of expectations, with a sales margin of more than 40 per cent.