PARIS, February 2025 – Hermès, the luxury French fashion and lifestyle brand, has announced its consolidated financial results for the full year 2024, showcasing robust growth and continued resilience in the face of economic uncertainties.
The Hermès Group reported revenue of €15.2 billion in 2024, representing a 15% increase at constant exchange rates and a 13% rise at current exchange rates compared to the previous year. Recurring operating income reached €6.2 billion, accounting for 40.5% of sales, while net profit (group share) climbed to €4.6 billion, or 30.3% of sales.
Axel Dumas, Executive Chairman of Hermès, commented: “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, whom I thank warmly. While preserving the group’s major balances and its responsibility as an employer, the house is staying the course, attached more than ever to its fundamental values of quality, creativity, and savoir-faire.”
The Group’s strong performance was driven by solid growth across all geographical areas, with a particularly robust performance in the Americas. During the fourth quarter, Hermès recorded sales of €4.0 billion, representing an 18% increase at both constant and current exchange rates.
Key highlights from the regional performance include:
- Asia excluding Japan (+7%): Recorded a remarkable increase, thanks to solid sales in all the countries in the area. Growth reached 9% in the fourth quarter, despite the downturn in traffic in Greater China since the end of the first quarter.
- Japan (+23%): Achieved regular and sustained growth, driven by the loyalty of local clients. A new store was opened in the Ginza district of Tokyo in June, following the Azabudai Hills store which opened in February.
HERMES Nanjing
Hermès continued to expand its exclusive distribution network, with the reopening of stores in Shenyang, Shenzhen, Beijing, and Singapore after expansion and renovation work.
The Hermès Group’s stellar 2024 performance underscores the brand’s resilience, agility, and unwavering commitment to its core values of quality, creativity, and craftsmanship. As the luxury industry navigates an uncertain economic landscape, Hermès’ ability to consistently deliver exceptional results positions the brand for continued success in the years to come.
