Hermes 2019 revenue rose 12.4 per cent. Recurring operating income was up 13 per cent. The company has been upgrading stores and opening new ones. Revenue generated in own stores rose 13 per cent last year. In Asia, excluding Japan, revenue rose 17.8 per cent. The firm saw strong growth in Greater China and in South Asian countries. The region benefited from sore revamps and openings as well as the continued development of its digital platform and it rolled this out in Singapore and Malaysia in October. Japanese sales rose 8.2 per cent. The Americas saw a 12 per cent revenue rise. Europe, excluding France, was slower but still grew eight per cent, driven by the United Kingdom and Italy. In November, Hermès opened its first store in Poland. Meanwhile, France posted an eight per cent growth.
In Q4 growth continued in all regions, with revenue rising 13.4 per cent in the quarter, although that figure and the 10.7 per cent constant currency rise did represent a slowdown.
France-based luxe brand Hermes, despite global economic, geopolitical and monetary uncertainties has an ambitious goal for revenue growth at constant exchange rates.