Hermès posts a 6 per cent increase for the first half of the year

Japan recorded an 11 per cent increase in revenue, with growth accelerating in the second quarter. This performance was driven by high footfall in stores and the loyalty of local customers. The Americas region performed even better (+15%): in June, in Los Angeles, Hermès successfully presented the second instalment of its Autumn/Winter 2026 womens’ ready-to-wear collection.

Europe (excluding France) recorded a 9 per cent increase, driven by events such as the opening of the Hermès Maison at 166 New Bond Street in London, the sixth of its kind. France recorded a 2 per cent increase, supported by both local customers and the recovery in tourist numbers.

Other regions, comprising mainly the Middle East, which saw a 4 per cent decline, demonstrated considerable resilience against a backdrop of geopolitical instability. The second quarter saw a gradual recovery, driven by local customers.

As regards product categories, at the end of the half-year all the “métiers” (the House’s business segments), with the exception of Fragrances and Beauty, recorded positive growth. The Leather Goods and Saddlery, Ready-to-wear and Accessories, Silk and Textiles, and Watches sectors also saw their growth accelerate in the second quarter.

More specifically, Leather Goods and Saddlery recorded a 10 per cent increase, with both the brand’s iconic pieces and new models such as the Cliquetis, Kelly Hobo and Double Longe proving hugely successful. Hermès has also continued to expand its production capacity with the opening, in early April, of its 25th leather goods workshop in Loupes (Gironde). Three further workshops are scheduled to open in the coming years: in Charleville-Mézières (Ardennes) in 2027, in Colombelles (Calvados) in 2028 and in Les Andelys (Eure) by 2030.

The Ready-to-Wear and Accessories category recorded a 2 per cent increase, benefiting from a marked improvement in the second quarter, driven by strong momentum in ready-to-wear. Sales in the Silk and Textiles segment were excellent, up 10 per cent, whilst the Fragrances and Beauty segment recorded a 4 per cent decline. The Watches segment is described as “stable”, with “solid growth in the second quarter”; other Hermès sectors, including Jewellery and the Home Universe (Furnishings and Homeware), continued to grow by 5%.

Recurring operating profit rose slightly to €3.4 billion, compared with €3.3 billion in the first half of 2025. Despite the negative impact of exchange rates, recurring operating profitability stood at 41 per cent, compared with 41.4 per cent at the end of June 2025.

The group’s consolidated net profit remained stable at €2.2 billion. As in the first half of 2025, this result includes the one-off levy applied in France to the profits of large companies. Excluding this charge, the Group’s consolidated net profit stood at €2.5 billion, representing 30.7 per cent of turnover. At the end of June 2026, exchange rate fluctuations had a significant negative impact on turnover, amounting to over €360 million.

During the first six months of the year, Hermès International also repurchased 94,846 of its own shares, for a total value of 160 million euros, net of transactions carried out under the liquidity agreement.

As regards the outlook for the future, in the medium term, despite global economic, geopolitical and monetary uncertainties, the group is reaffirming its ambitious target for revenue growth at constant exchange rates.