“SHOW OF CONFIDENCE”
Hermes said its sales climbed 14.5 per cent in Japan and 12.9 per cent in the rest of the Asia-Pacific region last year, with the group opening its 33rd store in China, a major market for luxury brands.
Japan and Asia-Pacific together were the biggest market for Hermes, with total sales of €7.5 billion.
Sales rose 19 per cent to €3 billion in Europe and 17.1 per cent to €2.5 billion in the Americas.
“Hermes is yet another company to confirm reviving momentum of the American consumers, on the back of resurgent confidence and lower inflation,” said Luca Solca, an analyst at Bernstein.
In its outlook for 2024, the company said: “In the medium-term, despite the economic, geopolitical, and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.”
It said it would propose a dividend increase to €15 per share, up from €13 in 2022, at its next general meeting in April.
“In addition, an exceptional dividend of €10 per share will be proposed to the general meeting,” it said.
“It’s a show of confidence for the coming year,” Dumas said.