French luxury brand Hermès managed to set a new turnover record in 2016: compared to the year before, its turnover grew 7.5 % to 5.2 billion euro, thanks to growth in every single market.
Smallest growth in 5 years
“We outperformed the market once again and we broke through the 5 billion euro milestone for the first time ever. It is also organic growth, without enormous impact from price hikes and other influences”, CEO Alex Dumas said. However, that growth was the smallest in the past 5 years and Hermès even targeted an 8 % growth at the start of 2016.
The leatherwear division’s turnover, the group’s most important division, grew 14 % to 2.6 billion euro, but overall, the group achieved growth in every regions, particularly in its own store network. There are difficulties in France, where the terror attacks have had their negative impact.
The French company refused to present a forecast for 2017, but Dumas expressed a desire to outgrow the market in 2017 as well.
