The revenues of the French luxury goods group Hermès totaled €2,084 million in the first quarter, an increase of 44 percent year-on-year at constant exchange rates and 38 percent at current rates driven by Asia. The organic revenue growth was 33 percent.
At constant currency rates, sales in Asia, excluding Japan, rose by 94 percent. Japan was up by 20 percent and the Americas up by 23 percent. Europe excluding France was down 1 percent and France down 9 percent due to new Covid-19 related restrictions during the quarter.
Sales of the leathergoods and saddlery business reached €987.9 million, up by 34 percent at constant currency rates. The division continues to increase its production capacity in France with the opening of sites in Guyenne and Montereau this year, in Louviers in 2022 and in Ardennes in 2023. A second production site is also scheduled in Auvergne for 2024.