Hermès news and archive

First quarter luxury earnings show brands' strengths and weaknesses

French luxury conglomerates serve as bellwethers for the wider industry, and the first-quarter revenue results have provided insight into both the strengths and weaknesses of the sector, shedding light on the preferences and behaviours of luxury consumers worldwide. While certain companies exceeded analysts' expectations, others experienced a...

BusinessFeatured

Hermès records strong Q1 growth

The Hermès Group’s consolidated revenue amounted to 3,805 million euros in the first quarter of 2024, up 17 percent at constant exchange and 13 percent at current exchange, driven by strong growth in all geographical areas. In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an...

CultureFeatured

Milan Design Week is dominated by fashion takeovers

Milan's annual Salone del Mobile furniture and interiors fair has transformed into the premier global design destination. Against the vibrant backdrop of Italy's fashion capital, a plethora of brands and retailers across the design spectrum offer unparalleled experiences, collaborations, activations, events, and, of course, soirées, transforming...

Investors brace for luxury slowdown in Q1

Investors are bracing for a notable downturn in luxury sales as companies prepare to release their first-quarter results, reflecting weakened demand from China, reported Reuters. Kering's unexpected forecast of a 10 percent decline in first-quarter sales, contrasting with the 3 percent anticipated by analysts, has already cast a shadow over the...

Fashion

Is an Hermès Birkin bag a better investment than gold?

Reports suggesting that Hermès requires shoppers to make purchases across multiple categories before being eligible to buy a coveted Birkin bag have led some luxury experts to speculate that these bags hold more value than gold. An article in Fortune this week highlighted that the value of a Birkin bag doubles approximately every five years,...

Business

Hermès taken to court by customers over 'unfair sales practices'

Hermès was taken to court by two customers in the US state of California, who accused the company of unfair sales practices. According to the suit, Hermès allegedly only offers its Birkin bag to an exclusive group of customers with "sufficient sales history". Only people who have previously bought from the brand are allowed to buy the Birkin...

BusinessFeatured

Hermès records strong sales and profit in 2023

The Hermès Group’s consolidated revenue amounted to 13,4 billion euros in 2023, up 21 percent at constant exchange rates and 16 percent at current exchange rates compared to 2022. Recurring operating income amounted to 5,650 million euros, while net profit group share reached 4,311 million euros, an increase of 28 percent. In the fourth quarter,...

Business

Hermes vs Hermes: Turkish bookseller takes on French giant

It's a case of Hermes vs Hermes. One, the global luxury goods giant based in Paris, is suing the other, a cosy bookseller tucked away in a Turkish seaside town, over alleged trade name infringement. Umit Nar, who owns the Sahaf Hermes store in the Aegean coast city of Izmir, argues that he has been in business for 15 years and never once been...

Business

PETA launches stink bomb protest at Hermès Paris boutique

The People for the Ethical Treatment of Animals (PETA) has amped up its pressure on Hermès in the run-up to Christmas, releasing “a foul-smelling spray” into one of the luxury brand’s Paris boutiques. The activist that carried out the protest donned a t-shirt stating “Hermès stinks of death” while holding a sign that read “Hermès: Stop Exotic...

Fashion Featured

In the name of discretion: how luxury brands offload stock

Images of unsold inventory, with garments piled high like those that end up in landfills, are mostly associated with fast fashion brands, known for their high-volume goods. However, luxury brands face similar issues of excess stock, especially in times of weakened consumer demand. Luxury brands often employ discreet and strategic methods to...

Business |EXCLUSIVE INTERVIEW Featured

Auction trends: How important are fashion and accessories? Exclusive Interview with Alice Léger from Artcurial

As fashion and accessories have become increasingly popular in the world of auctions, many are keen to understand their growing influence. To delve into the significance and workings of these markets, FashionUnited spoke with Alice Léger, the head of the Fashion and Accessories department at Artcurial, the third largest global auction house,...

BusinessFeatured

Hermès reports sales growth despite dip in Asia

French luxury group Hermes, known for its leather bags and silk scarves, on Tuesday said it continued to see sales growth in the third quarter despite a dip in Asia. The 7.3-percent rise in overall sales in the third quarter from the same period last year to 3.4 billion euros (3.6 billion dollars) narrowly beat analyst expectations. The...