A Hermes Birkin bag in a window display at a KaDeWe department store in Berlin, Germany, on Friday, Jan. 3, 2025.
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Haute couture fashion house Hermes on Friday reported a better-than-expected jump in fourth-quarter sales, proving still strong demand for the most exclusive products in an otherwise turbulent luxury market.
The maker of the Birkin handbag posted a 17.6% rise in revenues at constant exchange rates to 3.96 billion euros ($4.15 billion) in the three months to Dec. 31, outpacing the 3.69 billion euros forecast by LSEG analysts.
Full-year sales rose 14.7% at constant exchange rates to 15.2 billion euros versus an anticipated 14.94 billion euros.
“In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermès model and the agility of the house’s teams, whom I thank warmly,” Axel Dumas, executive chairman of Hermes, said.
Hermes has largely evaded a wider luxury sector downturn over recent years, maintaining a sense of allure and exclusivity where other brands have faced pushback amid higher costs and limited innovation.
This is a breaking news story and will be updated shortly.
