Hermès Reports Record Growth, Plans Price Increases Amid Luxury Market Resilience

French luxury brand Hermès outperforms rivals with a 21% increase in sales, rewarding employees with bonuses and planning global price hikes.

Hermès announced a 21% increase in sales for 2023, reaching $13.4 billion, with net profit up 28% to $4.6 billion.
The company plans to raise prices by 8% to 9% globally in response to continued strong demand for its luxury products.
All 22,000 Hermès employees worldwide will receive a $4,300 bonus as part of the company's profit-sharing policy.
Hermès's growth was robust across all regions, with significant sales increases in the Americas, Asia, and Europe.
The brand's resilience and performance have led to a positive outlook for 2024, despite global economic uncertainties.