Herm\u00e8s has posted first-quarter 2026 revenue of \u20ac4.07bn ($4.80bn), up 6% at constant exchange rates but down 1% on a reported basis after a \u20ac290m currency drag.<\/p>\n
Regional performance was mixed. The Americas rose 17%, with Japan and Europe excluding France each increasing 10%.<\/p>\n
France fell 3%, which the group attributed to lower tourist traffic linked to the situation in the Middle East.<\/p>\n
Asia excluding Japan edged up 2%, supported by local demand.<\/p>\n
The other region, largely the Middle East, declined 6% amid geopolitical developments affecting markets, including the UAE, Kuwait, Qatar and Bahrain.<\/p>\n
Retail sales in company-operated stores increased 7% despite softer tourist activity.<\/p>\n
Wholesale was weighed down by reduced sales to concession stores, particularly in the Middle East and at airport locations.<\/p>\n
Herm\u00e8s executive chairman Axel Dumas said: \u201cIn a tense geopolitical environment, Herm\u00e8s maintains its course, true to its long-term strategy. Supported by its abundant creativity, its uncompromising quality and the loyalty of its clients, Herm\u00e8s is continuing its profitable growth in 2026 with confidence and conviction.\u201d<\/p>\n
By division, leather goods and saddlery grew 9%, supported by ongoing demand and higher capacity, including the opening of a leather goods workshop in France.<\/p>\n
Silk and textiles rose 8%, while other Herm\u00e8s segments such as jewellery and home increased 7%.<\/p>\n
Ready-to-wear and accessories, as well as perfume and beauty, were flat, and watches dropped 4% as the market remained difficult.<\/p>\n
The group continued to develop its production and retail network during the quarter, opening a store in Hanoi, Vietnam, and refurbishing and enlarging its Umeda Hankyu location in Osaka, Japan.<\/p>\n
It also outlined plans to open new leather goods workshops in Charleville-M\u00e9zi\u00e8res in 2027, Colombelles in 2028 and Les Andelys in 2030, all in France.<\/p>\n
In addition, it will expand its watchmaking facility in Le Noirmont, Switzerland, with the project due for completion in 2028.<\/p>\n
Herm\u00e8s said it paid \u20ac328m to employees in early 2026 relating to 2025 results, covering profit-sharing, incentive schemes in France and a \u20ac3,000 bonus for all staff.<\/p>\n
For the medium term, the company reaffirmed its goal of revenue growth at constant exchange rates while citing continued economic, geopolitical and currency uncertainty.<\/p>\n