Hermès delivered solid performance across all geographical areas. Credit: Henry Chen on Unsplash.

French luxury design house Hermès has reported total sales of €3.36bn ($3.57bn) in the third quarter (Q3) of fiscal 2023 (FY23), up 16% at constant exchange rates.

The group’s consolidated revenue at the end of September 2023 was €10.06bn (10.69bn), up 22% and 17% at constant exchange rates and current exchange rates respectively.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Driven by the strong desirability of the collections and the expansion of its exclusive distribution network, Hermès’ store activity grew 22% in Q3 FY23, while wholesale activities increased 23%.

Hermès delivered solid performance across all geographical areas with sales growth greater than 20%.

Sales in Asia excluding Japan rose by 21% in Q3 FY23, with robust performance in Greater China, Thailand, Australia, Singapore and Korea. In Japan, sales increased 25% over the quarter.

The Americas registered 20% sales growth in the same quarter, while in Europe excluding France sales rose by 20%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company’s leather goods and saddlery business line posted sales growth of 19% and its perfume and beauty business delivered 8% sales growth.

The ready-to-wear and accessories business line also delivered strong performance. with sales up by 29%.

Hermès executive chairman Axel Dumas stated: “The solid performance in the third quarter reflects the desirability of our collections all over the world, with still a sustained momentum in Asia and in the Americas. More than ever, in an uncertain global environment, we are reinforcing our investments and our teams to support growth.”

In the first half of 2023, the company recorded an operating income of €2.947bn and a net profit – group share of €2.226bn.