Luxury Bag-Maker Hermès Is Selling More Than Ever
Birkin bag maker Hermès reported better-than-expected sales for 2024 on Friday, with revenues reaching €3.96 billion ($4.15 billion) in Q4 — up 18% year over year. Hermès rose modestly on the news, as the French brand bucked the slowdown recently observed in the luxury sector.
Total revenues topped €15 billion (~$15.7 billion) in 2024, boosted by a strong performance in the Americas and significant growth in its leather goods category (up 16%). Despite the pressure of looming US tariffs, analysts remained confident that Hermès could bypass the impact of import duties by bumping prices further, since demand for its ~$270 ties, ~$12,000 bags, and ~$1,050 belts exceeds its supply.
See data tab for historical revenue in USD. See the full article here.