Hermès has reported strong growth in its jewelry sales, despite experiencing a decline in its watch sector. The French luxury brand announced a 15% increase in overall revenue for 2024, reaching $15.9 billion (€15.2 billion) at constant exchange rates. This growth was driven by strong performances across various sectors, including apparel, leather goods, beauty, and perfume.
The company’s “other” sector, which includes jewelry and home goods, saw a 17% increase in sales. However, Hermès did not provide further details on the performance of specific products within this category.
On the other hand, the watch sector experienced a 4% drop in revenue. Hermès attributed the decline to a “more challenging context” and a high comparison base from the previous year.
Axel Dumas, Executive Chairman of Hermès, commented on the results, saying, “In 2024, despite the more uncertain economic and geopolitical environment, the strong performance of our results reflects the resilience of the Hermès model and the adaptability of our teams.”
The brand saw the highest sales growth in Japan, which rose by 23%. Europe followed with a 19% increase, while sales in The Americas grew by 15%.
Related topics:
- MyGemma Introduces Consignment Service for Luxury Resale
- Heart-Shaped Gold Jewelry Gains Popularity as Valentine’s Day Approaches
- L’ÉCOLE Middle East Launches Inaugural Jewelry Arts Festival in Dubai
