Hermès International: Strong Third Quarter 2024 Results

Hermès International announced a strong performance for the third quarter of 2024, reporting a revenue of €3.7 billion. This represents an 11% increase at constant exchange rates compared to the previous year. The group's consolidated revenue at the end of September reached €11.2 billion, marking a 14% rise at constant exchange rates.

Despite a challenging market, all geographical regions showed growth. Europe excluding France saw an 18% increase, and the Americas rose by 13%. Japan experienced significant growth of 23%, attributed to local client loyalty. However, Asia excluding Japan faced challenges due to reduced traffic in Greater China.

By sector, Leather Goods and Saddlery led with a 17% increase. Ready-to-wear and Accessories grew by 15%, while Silk and Textiles reported a modest 2% increase. Perfume and Beauty also showed steady growth at 7%, but the Watches sector saw a decline of 6% due to a strong comparison base from the previous year.