Axel Dumas<\/a>, the executive chairman of the family-run group, highlighted the double-digit growth in saddlery and leather goods, and took note of analysts\u2019 questions with a touch of irony.<\/p>\n\u201cWhen I read analysts\u2019 reports, I see: \u2018Can they continue to grow in volume when they\u2019ve already grown so much?\u2019 or \u2018Aren\u2019t they growing too fast? They should scale back because it will undermine exclusivity.\u2019 My approach is to try to grow whilst manufacturing our bags to our exacting quality standards,\u201d explained the company\u2019s executive chairman, whose firm has almost doubled its sales since the start of the decade. \u201cThis limits our production because we need to maintain the right level of craftsmanship. We train our staff to a very high standard right from the start to ensure they can grow with us. We also have to source the right materials, particularly leather, which places constraints on production. But on the other hand, I\u2019m very pleased to be creating jobs in France.\u201d<\/p>\n
![\"The](\"https:\/\/www.europesays.com\/france\/wp-content\/uploads\/2026\/09\/6dd0.jpg\")
The executive chairman of the family-run group highlights his teams\u2019 expertise and training <\/p>\n
In fact, Herm\u00e8s says it created more than 600 jobs in the first half of the year, over half of them in France. And, to illustrate his point about these employees, the executive chairman mentioned staff whose families were affected by the fires in Fontainebleau and in Gironde, as well as the volunteer firefighters within the group who were called upon to help during the summer\u2019s disasters. Whilst financial analysts are pondering the expectations of Chinese consumers- given that Asian markets account for more than half of the group\u2019s sales in the first half- the executive chairman prefers to take a medium-term view.<\/p>\n
Keeping an eye on pork prices<\/p>\n
He does, however, share his analysis of the situation in China, accompanied by his chief financial officer, \u00c9ric du Halgou\u00ebt. In his view, the situation in this market has stabilised, though it is not yet showing signs of a recovery. And the executive chairman shares an anecdote about how he gauges the mood and consumer appetite in the country. He keeps a close eye on the property market, but also relies on a far more unusual indicator: the price of pork, a product consumed at banquets and in restaurants which, in his view, reflects the desire to celebrate and spend. This aside certainly captured the audience\u2019s attention and enabled the executive chairman to refocus the discussion on what he highlights as Herm\u00e8s\u2019 key assets: safeguarding its craftsmanship and expanding its network of leather\u2011goods workshops.<\/p>\n
\u201cWe remain committed to growing our leather goods business. Right up to 2030, we have almost one new workshop scheduled to open every year, and we are considering a new region in France where we could establish our production beyond 2030,\u201d explained the executive chairman, who emphasised that Herm\u00e8s\u2019s plan is based on controlling production and productivity, maintaining and preserving craftsmanship, and the ability to source leather that meets Herm\u00e8s\u2019s exacting standards. \u201cAnd that is a point of concern for me,\u201d said Axel Dumas.<\/p>\n
\u201cWith the industrialisation of livestock farming, we are finding fewer and fewer good hides. To compensate, we are investing more and more in our tannery in order to obtain better-quality hides. We have new types of leather this year, which will soon be in the shops. We have ranges where we cannot produce large quantities, but rather many small batches. We have very strong demand for handbags. In my view, we must maintain the quality of Herm\u00e8s bags. Today, everything we produce is sold, which is why we have a positive cash flow. There is a high level of desirability, regardless of the model. It\u2019s good to be desirable, but it\u2019s better if you\u2019re desirable and your sales are increasing. And I certainly have the ambition to grow.\u201d<\/p>\n
A diversified range<\/p>\n
\u00a0
By focusing on the long term, the executive chairman also helps to ease pressure from fluctuations in any single geographical area or the demand for any single product. \u201cI headed up the leather goods division before becoming managing director between 2008 and 2011. We have a strategy based on a range of bags rather than relying on a single pillar,\u201d says Axel Dumas, emphasising the importance of balance and pointing out that demand isn\u2019t limited to the Birkin and the Kelly, or even the Constance.<\/p>\n
\u201cThe Picotin is in high demand, as is the Evelyne. We have the Garden Party and so many other bags. It\u2019s really important for us to maintain this diversity of models. The only limits are craftsmanship and quality. We\u2019re seeing growth of 6%, and 10% in leather goods. But don\u2019t forget that growth at Herm\u00e8s is mainly measured in hours. An hour spent making a crocodile bag, a large bag or a small bag is not the same. It\u2019s not an exact science or a matter of mathematics.\u201d And to continue driving growth, the executive chairman explains that the company relies on creativity, with frequent launches of new designs.<\/p>\n
\u201cWhen I was young, my grandfather here at the Faubourg used to design the bag. It was made in the workshop next door, then we\u2019d put it in the shop window to see if it sold. And if it did, then we\u2019d make another one. Today, things are more organised because we have 294 shops, but creativity must remain at the heart of our approach, just like our craftsmanship.\u201d<\/p>\n
![\"\"](\"https:\/\/www.europesays.com\/france\/wp-content\/uploads\/2026\/08\/3116.png\")
Photo: Val\u00e9rie Sadoun for Herm\u00e8s<\/p>\n
Herm\u00e8s has, moreover, reaffirmed its strategy for experiential spaces and customer engagement. The opening in June of its London boutique at 166 New Bond Street, comprising no fewer than 55 rooms, is one of the most spectacular examples of this.<\/p>\n
During the first half of the year, Herm\u00e8s opened its shops in Hanoi, Vietnam, and Sanlitun, Beijing, and reopened enlarged shops such as Hong Kong Elements<\/a>, the San Diego boutique in California, and Sogo Fuxing in Taipei.<\/p>\n\u201cWhen I started as managing director, we had 313 shops. Today, we have 294. We have managed to increase the group\u2019s turnover whilst reducing the number of shops. We are fortunate at Herm\u00e8s to have Florian Craen as our chief commercial officer; he is sitting beside me, so I can tell him that I think he is brilliant. We have pursued a flagship strategy. Yes, we have slightly fewer shops, but they are no longer the same shops as they were 13 years ago. They are larger, which allows us to showcase all our product lines- a key driver of growth in these categories, particularly the \u2018Other Product Lines\u2019 (jewellery and homeware). There will be growth in volume in each of these shops, thanks to a more effective way of presenting all our product lines.\u201d<\/p>\n
Thus, whether in terms of handbag production or retail, Axel Dumas\u2019s clear strategy remains one of disciplined expansion to preserve the brand\u2019s exclusivity and desirability\u2026 even at the risk of not always winning over the market.\n <\/p>\n
\n Copyright \u00a9 2026 FashionNetwork.com All rights reserved.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Published September 2, 2026 Since the start of the year, Herm\u00e8s\u2019 share price has fallen by nearly a…\n","protected":false},"author":2,"featured_media":73108,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12919],"tags":[20129,1576,13457,997,4953,5797,2009,19247,27583],"class_list":["post-74238","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hermes","tag-axel-dumas","tag-beauty","tag-elements","tag-fashion","tag-hermes","tag-logo","tag-luxury","tag-network","tag-professionals"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/74238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=74238"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/74238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/73108"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=74238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=74238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=74238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Boutique](\"https:\/\/www.europesays.com\/france\/wp-content\/uploads\/2026\/09\/ce4c.jpg\")
Boutique in San Diego, California, reopened in July – Herm\u00e8s<\/p>\n