The Fashion Enthusiast Logo

Hermes reports a 29% increase in consolidated revenue in FY22.

"In fiscal 2022 (FY22), the French luxury fashion house Hermes announced consolidated sales growth of 29% at current currency rates, hitting €11,602 million."

The Fashion Enthusiast
Hermes reports a 29% increase in consolidated revenue in FY22.

hermes

Strong performances in the Americas and France, as well as persistent demand in Asia, particularly in Greater China, were the main drivers of the company's sales growth.

With a 16% increase in revenue, the leather goods and saddlery business line had a particularly strong fourth quarter thanks to consistent demand and favorable comparisons. Due to the popularity of the collections, the ready-to-wear and accessories segment also experienced significant development, with a 36% increase in sales.

Sales for the silk and textile business line increased by 20% as a result of the expansion of production capabilities and the popularity of the collections. The company stated in a press release that the other Hermes business lines, including homeware, kept growing.

The group's recurring operating income climbed by 33% to €4,697 million, and its annual repeating operational profitability increased to 40.5% from 39.3% in 2021, its best level ever. The total net profit (group share) for the entire company increased by 38% to €3,367 million.

Sales reached €2,991 million in the fourth quarter of FY22, a rise of 26% at current exchange rates and 23% at constant exchange rates, maintaining the sales momentum seen at the end of September.

"Hermès had an extraordinary year in 2022, in large part due to the success of its worldwide markets. This achievement strengthens our strategy as an artisanal and highly integrated business, primarily in France: a design house that provides goods with an assertive aesthetic and unwavering quality. The year supports the applicability of our ethical and ecological business strategy, according to Hermes executive chairman Axel Dumas.

Topics:

Linda Maria Image - The Fashion Enthusiast

Linda Maria

Editor Total Stories: 154

Linda Mariya is a New Jersey-based writer and editor who is covering fashion, beauty, celebrity, and models. She is currently the Senior Editor at The Fashion Enthusiast

view all stories from Linda Maria

Thoughts?