Hermès holds the reins amidst uncertainty in the luxury space
The six-generational French house sees a healthy increase in turnover whilst other brands seem unsteady
Words: Charlie Bentley
The French luxury design house Hermès has long been synonymous with timeless elegance, particularly renowned for its leather goods, silk scarves, and the iconic Birkin bag. While the luxury sector has recently reported widespread low profits for the first half of 2024, Hermès International (RMS.PA) defied the trend with a 15% increase in turnover, reaching €7.5 billion. So, what are the secret ingredients to Hermès's recent success, and can other brands replicate this in the second half of the year?
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