Hermes achieves record sales in 2011

Hermes advertising Spring Summer 2012

French luxury maison Hermes achieved record sales of 2.84 billion euros (+18.3%), up sharply everywhere and especially in America and Asia, and in all divisions (leather goods, clothing and accessories, as well as silk textiles, jewelery, watches, tableware). In 2011, Hermes has already announced an operating margin increased by over 30%.

Analysts predict a net profit approaching 580 million euros, up some 30%, against 421.7 million in 2010, a year when he had jumped 46%. Adjusted for the transfer to the Spanish Puig its 45% stake in Jean Paul Gaultier (for a total of 30 million euros), net income is apparent close to 550 million euros.

Since 2005, the family house created in 1837 has doubled its turnover. Hermes aims to surpass in 2012 the milestone of 3 billion euros in sales, with “at least 10%” growth”. “For us it’s going very well. Hermes in 2011 was one year wholly exceptional”, CEO of Hermes Patrick Thomas told AFP.

Hermes plans to give priority in 2012 in the issue of production and inventory rebuilding, which were “very low” end of 2011 according to Patrick Thomas.