Hermès Sales Skyrocket to €6.7 Billion EUR in First Half of 2023

Hermès, the French luxury design house behind the famous Birkin that was recently named the “most coveted designer bag across the globe,” saw flourishing financial success in the first half of 2023.

The company reported consolidated revenues of €6.7 billion EUR, up 25% at constant exchange rates compared to the same period last year. Net income, meanwhile, amounted to €2.2 billion EUR, marking an increase of 36% from 2022; and recurring operating income reached €2.9 billion USD, comprising 44% of total sales.

“The 2023 first half results reflect the strength of the pillars of the artisanal model of the house: quality of materials, exceptional know-how and abundant creativity,” said Axel Dumas, executive chairman of Hermès. “To support this growth, we continue to invest in our production capacities, in the expansion of our network, while accelerating job creation and training in all of the group’s métiers.”

Across global regions, Hermès earned sales increases of at least 20%. In Asia, excluding Japan, the label saw sales jump by 28%; in Europe, excluding France, the brand reported a 22% increase, and in the Americas, Hermès achieved 20% growth.

The group also earned sizable growth across all product categories. Notably, leather goods and saddlery were up 21%; ready-to-wear and accessories rose 35%; watches climbed by 24%, and its silk and textile line recorded a 22% increase.

See Hermès’ full 2023 H1 financial report here.

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