The French luxury house that is working to adopt more sustainable alternatives for the popular style was rewarded by the consumers with sustained sales growth.
The Hermès also rewarded its 19700 employee’s one-time year-end bonus of €4,000 for each of its profits and sales posted hefty gains during 2022. The shareholders would get €13 per share (around €1.4 billion) to shareholders after sales increased by 29 percent last year.
The fourth-quarter sales of the brand rose 23 percent year-on-year, excluding currency swings, Full-year revenues of Hermès jumped by 29 percent last year to $12. This performance enabled the top-end leather goods manufacturers to become the third-biggest brand after Louis Vuitton and Chanel. The Paris-based company lost its position to Kering’s Gucci in 2017. Hermès net profit reached €3.4 billion.
The CEO Axel Dumas who announced the year-end bonuses also presented the company’s plans to maintain recruitment with the inauguration of 2 new manufacturing sites in France. The Luxury group added 2,100 employees last year to its global headcount. The average salaries of workers increased by 6 percent.
The shareholders got a 63 percent higher per share dividend from €8 last year compared with a dividend of €13 per share this year.
