Hermès reported an 11.4% increase in revenues for the first nine months of 2024. The French fashion house is bucking the trend of the luxury industry as competitors like LVMH stutter.
Hermès is succeeding while peers struggle because it follows the law of luxury to a tee, analysts say. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go.
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement If the luxury slump is an epidemic, Hermès is managing to stay immune.
A week after LVMH announced dismal third-quarter earnings and a day after Kering reported a 15% year-on-year decline in revenue in its most recent quarter, the French luxury design house has presented its own results. In stark contrast to its peers, Hermès's revenue jumped. Revenues were 11.
2 billion euros ($12.1 billion) for the first nine months of 2024, up 14% from the same period in 2023. Advertisement Third-quarter sales also displayed resilience, rising to 3.
7 billion euros ($4 billion), up 10% from 3.4 billion euros ($3.7 billion) in the third quarter of 2023.
The nearly 200-year-old family co.