Hermes’ Q2 FY2021 soared 127 per cent Y-o-Y and 33 per cent on a two year basis yearly basis. The brand‘s recurring operating income grew by 41 per cent to €1.722 million. Its net income reached €1.174 billion from €335 million a year earlier and €754 million in H1 2019.
The company’s H1 sales increased by 81 per cent at constant exchange rates compared to last year, and by 41 per cent compared to 2019. Wholesale activities improved by 46 per cent but remained penalized particularly by travel retail.
Hermes’ Asia sales excluding Japan rose by 87 per cent in H1 year-on-year and 70 per cent compared to 2019. They were driven by the strong performance in Greater China and the acceleration in sales in Singapore and Thailand. Its sales in the Americas grew by 115 per cent, with a Q2 acceleration being noted, and they rose 25 per cent over two years.
Japan sales increased by 59 per cent year-on-year and 22 per cent over two years while European sales excluding France rose by 52 per cent and were down only 3 per cent over two years. France sales increased by 35 per cent year-on-year, but declined by 16 per cent over two years.
Sales in Leather Goods and Saddlery segment rose by 63 per cent Year-on-Year and 25 per cent over two years while sales in the Ready-to-Wear and Accessories division, rose by 98 per cent over one year and 40 per cent over two,years. Silk and Textiles division’s sales rose by 72 per cent and 6 per cent, while Perfume and Beauty increased by 65 per cent on the year and 17 per cent over two years.