Hermès announced consolidated revenue in the first half of 2023 amounted to EUR 6.7bn, up 22 per cent at current exchange rates, on the back of “exceptional growth” in Asia.
Hermès Asia excluding Japan region sales surged 28 per cent, after a successful Chinese New Year, as the Parisian brand claimed a “strong momentum” in Greater China and throughout the region, particularly in Singapore, Thailand, Australia and South Korea.
Hermès said its second quarter benefitted from a favourable comparison basis year on year, due to the health measures taken in China in April and May 2022. The Peninsula store, the house’s first address in Beijing in 1997, also reopened in April after renovation and extension.
Likewise, Hermès Japan sales grew 26 per cent during the six-month period, thanks notably to its “local clients,” it said. During the period, the Fukuoka Hakata Hankyu store also reopened in May after renovations.
By category, leather goods and saddlery recorded 21 per cent growth, on the back of sustained demand and a favourable comparison basis in the second quarter, notably in Greater China, while the brand’s ready-to-wear and accessories division skyrocketed 35 per cent, driven by the success of the ready-to-wear collections, fashion accessories and shoes. The silk and textiles business line grew 22 per cent, with perfume and beauty gaining 10 per cent.
