The Hermès Playbook
How to show resilience in the troubled luxury market
Hermès’ 2024 Outperformance: Focus, Clarity and Patience
Hermès delivered exceptional financial results in 2024, outperforming larger luxury conglomerates LVMH, Richemont, and Kering on growth and profitability. While many rivals saw a post-pandemic slowdown, Hermès achieved 15% sales growth (at constant FX) to €15.2 billion for the year, including an 18% surge in Q4 alone. In contrast, LVMH’s organic revenue growth was just 1% in 2024, and Kering’s sales fell 12%.
Hermès’ stellar 2024 results are the by-products of a focused strategy, with no single ingredient standing out. In other words, it is a cohesive commercial and operational strategy that is clear and focused.
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