Hermes FY23 profits hit €4.3bn
The news comes as, in Q4, sales hit €3.3m (£2.8m), an increase of 18% despite the ‘particularly’ high comparison base in America and Asia
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Luxury fashion group Hermes has reported that net profits hit €4.3bn (£3.6bn) during 2023, an increase of 28% compared with the previous year, as sales rose 16% to €13.4bn (£11.4bn).
The news comes as, in Q4, sales hit €3.3m (£2.8m), an increase of 18% despite the “particularly” high comparison base in America and Asia.
According to the group, its performance was thanks to sustained sales.
As a result, Hermes announced that its 22,000 employees globally would receive a €4,000 (£3,413) bonus early this year as part of its “policy of sharing the fruits of growth with all those who contribute to it on a daily basis”.
The luxury group has also proposed an increase in dividends for shareholders.
Axel Dumas, executive chairman of Hermes, said: “In 2023, Hermes has once again cultivated its singularity and achieved an outstanding performance in all metiers and across all regions against a high base.
“These solid results reflect the strong desirability of our collections and the commitment and talent of the house’s women and men. I thank them all warmly.”