Hermès Reports an 8.3 Percent Growth in Sales during Q2

CEO Axel Dumas says hopes to continue production increases and lower waiting times for customers.

Fashion
2,667 Hypes 0 Comments

French fashion house Hermès has had quite the year so far. After showing off its 2018 spring/summer collection at Paris Fashion Week Men’s earlier this year, CEO Axel Dumas has stated that the brand has seen an 8.3 percent increase in sales during the year’s second quarter. Dumas says the growth is due in large part to production increases, as 120 new employees have been hired to work at the brand’s two new leather workshops in France. In addition to selling more leather goods, the brand has also reported an uptick in watch sales during the past year, something that caught Dumas and other business analysts off guard. “I’m afraid the watch industry and our watch business will continue to be lukewarm, even if we are maintaining sales in our stores,” said Dumas. ”This growth was sane because it was achieved practically without raising prices.”

Dumas also says the increase in sales is due in large part to the brand’s increase in pushing products at a retail level, something other brands have had to stray away from as consumers shift to digital marketplaces. Earlier this year, Polo Ralph Lauren closed its flagship store on Fifth Avenue in New York, saying it was straying away from the retail model in favor of a new strategy. Although the 8.3 percent increase is less than the 11 percent increase in sales the brand saw in Q1, Dumas says the company’s growth is still on track for what it budgeted for.

Read Full Article

What to Read Next

Hermès Reveals Sales Have Returned to Pre-Pandemic Levels
Fashion 

Hermès Reveals Sales Have Returned to Pre-Pandemic Levels

Showing that consumers still have an appetite for luxury.

Leica's Q2 Reporter Is Wrapped in Kevlar for Hardcore Photo Journalism
Tech

Leica's Q2 Reporter Is Wrapped in Kevlar for Hardcore Photo Journalism

Coming in color-taking or “MONOCHROM” iterations.

Nike Fiscal 2022 Q2 Results Show Better-Than-Expected Numbers but Slow Growth
Footwear 

Nike Fiscal 2022 Q2 Results Show Better-Than-Expected Numbers but Slow Growth

Noting continued inventory issues and supply chain challenges.


AMD's Revenue Skyrocketed 99% In Q2 of 2021
Tech 

AMD's Revenue Skyrocketed 99% In Q2 of 2021

Share prices reached a record high following its earnings report.

Nike Unveils a "Solar Red" Colorway for the Air Max 1 Ultra 2.0 Moire
Footwear

Nike Unveils a "Solar Red" Colorway for the Air Max 1 Ultra 2.0 Moire

Red alert.

Travis Scott Pays Tribute to His Longtime Bodyguard
Music

Travis Scott Pays Tribute to His Longtime Bodyguard

Including an emotional performance of ‘90210’

Dwayne "The Rock" Johnson & Siri Are Getting Their Own Movie
Entertainment

Dwayne "The Rock" Johnson & Siri Are Getting Their Own Movie

‘The Rock x Siri: Dominate the Day’ is set to drop sooner than you think.

The Second ALYX x Vans Collection Comes to Life in This New Video
Footwear

The Second ALYX x Vans Collection Comes to Life in This New Video

Releasing this week.

Frank Ocean Brings out Brad Pitt and Has a Singalong With Fans During His Set at FYF Fest 2017
Music

Frank Ocean Brings out Brad Pitt and Has a Singalong With Fans During His Set at FYF Fest 2017

The singer had a few surprises up his sleeve for the festival’s attendees.


20 Luxury Sneakers To Upgrade Your Wardrobe With This Season
Footwear 

20 Luxury Sneakers To Upgrade Your Wardrobe With This Season

Some low-key sophistication and some outright bold flexing.

Everyone Comes out With Guns Blazing in New 'Westworld' Season 2 Trailer
Entertainment

Everyone Comes out With Guns Blazing in New 'Westworld' Season 2 Trailer

The man in black is back.

ASICS Releases "Japanese Denim" GEL-Lyte III & GEL-Lyte V Colorways
Footwear

ASICS Releases "Japanese Denim" GEL-Lyte III & GEL-Lyte V Colorways

Utilizing a unique double-dye technique.

John Mayer Is Dropping His DIY Nike Air Max 90s Soon
Footwear

John Mayer Is Dropping His DIY Nike Air Max 90s Soon

It’s not your average “collaboration.”

The Hulk Learns to Talk in the New 'Thor: Ragnarok' Trailer
Entertainment

The Hulk Learns to Talk in the New 'Thor: Ragnarok' Trailer

Witness the fall of Asgard.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. If you enjoy our content, please whitelist our site to show your support. We’d really appreciate it.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.