Despite an uncertain market environment, Hermès reported double-digit sales growth for both the Q4, FY24 and the full fiscal year.

The luxury brand’s revenue increased by 18 per cent to €4 billion ($4.2 billion), both on a reported and constant currency basis, in Q4 ended December 31 as against 11.4 per cent increase reported in Q3, FY24.

The brand also recorded a 10 per cent rise Asia sales, excluding Japan, despite a decrease in traffic in Greater China. Driven by the loyalty of local customers, their sales in Japan rose by 20 per cent.

Hermes sales in the Americas increased by 21.4 per cent during the quarter while those in Europe grew by 16.9 per cent.

For the full year, the brand’s revenue increased by 13 per cent to €15 billion, and consolidated net profit rose by 7 per cent to €4.6 billion.

The brand’s strong performance in 2024 even amid a more uncertain economic and geopolitical climate demonstrates the strength of the its sales model and its agility, says Axel Dumas, Executive Chairman.

The company remains committed to its fundamental values of quality, creativity and craftsmanship while also maintaining the group's key balances and its responsibility as an employer, he adds.

The company anticipates continued revenue growth in the medium term, despite economic, geopolitical, and monetary uncertainties.