Hermès gives out €4000 bonus to all staff as sales surge

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French luxury group Hermès is giving out an exceptional bonus of €$4,000 to each of its employees worldwide by the end of this month.

According to its official annual results of 2022, this comes as the group continues its commitment as a responsible employer and in recognition of the employees’ contribution to the company after adding some 2,100 new hires to the workforce last year.

At the end of December 2022, the group employed 19,700 people, including 12,400 in France. Over the last three years, Hermès created 4,300 jobs, including 2,900 in France, and reinforced its operating investments by €1.5 billion, including 60% in France.

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The generosity also comes from the group’s increased revenue of €11,602 million in 2022, up 29% at current exchange rates and 23% at constant exchange rates compared to 2021.

In the fourth quarter 2022, the great sales momentum recorded at the end of September continued, with sales reaching €2,991 million, an increase of 26% at current exchanges rates and 23% at constant exchange rates.

The company’s annual results of 2022 showed that sales increased considerably both in group stores (+23% at constant exchange rates) and in wholesale activities (+26%), which benefited from the recovery in travel retail. Hermès continued to develop its exclusive distribution network, while online sales pursued its upward trend worldwide.

Asia excluding Japan (+22%) remained very dynamic throughout the geographical area. Sales performance in Greater China was sustained. In October, a fourth store opened in the Qiantan district in Shanghai, Mainland China, and Hermès inaugurated a store in Pangyo, in South Korea. Several stores reopened after renovation and extension work, such as the Hyundai Coex store in Seoul in December and the Hong Kong international airport store in November.

Axel Dumas, executive chairman of Hermès, said: “In 2022, Hermès had an exceptional year thanks notably to the good performance of its international markets. This success reinforces our approach as an artisanal and highly integrated company, mainly in France: a design house that offers objects conceived to be functional, with an assertive style and uncompromising quality. The year underpins the relevance of our responsible and sustainable model.”

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