Hermès revenues rise as beauty sales grow 10%

Hermès has reported a 22% increase in consolidated revenue to £5.1 billion (€6.6 billion) for the first half, helped by new launches in fragrance and makeup.

The perfume and beauty business reported sales up 10%, boosted by the company's Un Jardin à Cythère Eau de Toilette and limited-edition of Rouge Hermès.

The luxury label saw revenue increase 35% for the ready-to-wear and accessories business, with accessories and shoes benefitting from "strong demand".

The leather goods and saddlery business recorded sales growth of 21%.

The watches business posted a 24% rise in sales, whilst the silk and textiles business saw sales increase 22%, supported by "exceptional" materials and the expansion of production capacities.

All geographical areas posted "strong" growth, with sales up 24% in Europe thanks to the "loyalty of local customers and dynamic tourist flows".

Looking ahead, the group said it continues the year with confidence, thanks to the "highly integrated artisanal model, the balanced distribution network, the creativity of collections and the loyalty of clients".

Axel Dumas, Executive Chairman of Hermès, said: "The 2023 first half results reflect the strength of the pillars of the artisanal model of the house: quality of materials, exceptional know-how and abundant creativity.

"To support this growth, we continue to invest in our production capacities, in the expansion of our network, while accelerating job creation and training in all of the group’s métiers."