Home / Knowledge / News / Fashion / Hermès International reports FY19 revenues of €6.8 bn

Hermès International reports FY19 revenues of €6.8 bn

23
Mar '20
Pic: Hermès International
Pic: Hermès International
Hermès International SA, a French high fashion luxury goods manufacturer, posted 12.4 per cent revenue growth to €6.8 billion in fiscal 2019 ended on December 31, 2019 compared to €5.9 billion in previous fiscal. The recurring operating income rose 13  per cent to €2,339 million. Net profit jumped 22.2 per cent to €1,528 million over the year.   
 
The company reported that it continued to improve the quality of its distribution network, with both store openings, renovation and extension completed on almost twenty stores.
 
“Hermès achieved outstanding performances this year, based on a balanced growth in all the business lines and in all the geographical areas. This sound momentum is supported by our craftsmanship model, the integration of the distribution network and ample creativity,” Axel Dumas, executive chairman of Hermès, said in a press release. 
 
Asia excluding Japan pursued its strong growth (€642.7 million) in Greater China, despite the impact of events in Hong Kong in the last quarter, and in South Asian countries, as company reported. The stores in Qingdao in China and Hyundai in Korea were extended and reopened in December, after the Xiamen store in China and Phuket Floresta store in Thailand openings earlier in the year. 
 
Hermès continued to successfully develop its digital platform, rolled out in Singapore and Malaysia in October. 
 
Japan’s revenue increased 8.2 per cent to €864 million, with the year-end impacted by anticipated purchases due to the VAT increase in October. The new platform hermes.jp was launched in June. 
 
America revenue jumped 12 per cent confirming its momentum throughout the area. After the recent store openings in New York’s Meatpacking district and in Waikiki in Honolulu, the San Francisco store was extended and reopened in November, confirming dynamic growth both in the United States and in the other countries in the area, company reported. 
 
Europe excluding France achieved a sound performance increased by 8 per cent to €1,201.9 million, reportedly in particular by the United Kingdom and Italy. In November, Hermès opened its first store in Warsaw, Poland, a new country for the Group.
 
Leather goods and saddlery segment’s revenue grew 11 per cent to €3.4 billion benefited from sustained demand, both for the re-invented classics and other models such as the Mosaïque, 24/24 or Twins bags. 
 
The Ready-to-Wear and Accessories division revenue increased 17 per cent to €1.5 billion and confirmed its strong momentum, due to the success of the men’s and women’s ready-to-wear collections, and fashion accessories, particularly shoes, Hermès reported.
 
The Silk and Textiles business line registered 7.5 per cent growth to €592.5 million, with collections that combine diversity of materials with strong creativity, both by their design, their new formats, the fabrics and methods used. 

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Holding cost will affect apparel manufacturers

That brands may eventually not scrap orders is not necessarily good...

Pic: reddees / Shutterstock.com

Apparel/Garments | On 7th Apr 2020

Commendable decision by international garment buyers

At a time when the world is passing through an unprecedented crisis...

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Over 40 apparel factories in Bangladesh resume production

More than 40 readymade garment (RMG) factories in Bangladesh's Savar, ...

Interviews View All

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Boban Charly,

Boban Charly

Bierrebi designs and manufactures automatic machines that cut fabric into...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search