Hermès

Hermès was founded in 1837 in Paris by Thierry Hermès, who began his career making leather goods for horse riding. It was not until the twentieth century when the company entered the business of handbags, which served to gain territory in the American market. One of its most relevant products are its silk scarf and its Birkin handbag.

In a strategic move, the French luxury group has invested in the Italian luxury company, keeping the financial terms under wraps. The production facility additionally caters to major fashion houses including Prada and Chanel.

The French conglomerate wrapped up the quarter with sales soaring to €3.9 billion, fueled by robust performance in Europe, the Americas, and its leather goods division, which remains its key driver. By September, the company had amassed a staggering €11.9 billion.

Historic Shift at Hermès: Grace Wales Bonner Succeeds Véronique Nichanian

Grace Wales Bonner steps into the spotlight as Hermès’ new creative director for menswear, blending British tailoring with streetwear influences to redefine luxury fashion.

The designer, a notable recruit of Jean-Louis Dumas who arrived at the company from Cerruti, is set to unveil her final collection this January. The luxury group has yet to announce her successor.

Hermès Profits Shrink by 5% in H1, Sales Remain Robust

Attributed to an ‘exceptional levy on big companies’ profits in France,‘ the French firm’s net income has taken a hit. Meanwhile, sales soared to €8.03 billion.

The crisis in the luxury sector, which has not affected all major companies equally, has reached the Arnault fortune, which is losing its leading position to the heirs of Hermès, still immune to the general downturn.

Despite the challenges facing the luxury sector worldwide, the French group remains steadfast in expanding its production capacity. The development of its Le Noirmont site in Switzerland will be completed by 2028, enhancing its value chain control.

Hermès has closed its 42 production plants in France except for Vaudreuil, where it produces its perfumes, which will now produce disinfecting gels.

The French luxury company has registered a revenue of 6.9 million euros (7.5 billion dollars) in the last year. The group’s profit reached 1.5 billion euros (1.6 billion dollars).

Wuhan, capital of the Chinese province of Hubei is one of the main business destinations in the area, where companies such as Shiseido, Hermès, Prada or Louis Vuitton operate.

The chief executive officer of the bridal fashion company since 2018, Amandine Ohayon, has been creating a senior leadership team tapping talent from Hermès, Bottega Veneta, Lanvin and Balenciaga.

The French luxury fashion company has ended the first nine months of the fiscal year with a revenue of 5 billion euros, boosted by its business in Asia Pacific.

The store will be located in Warsaw, on the Europejski Hotel. At the end of its fiscal 2018, Hermès had 310 stores.

Luxury French company is planning to extend the capacity of its French factory located in Pierre Bénite with the aim of satisfying the demand of Asian market.

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