Hermès Records 10% Sales Growth in the Third Quarter of 2025
Hermès reported a revenue of 3.9 billion euros in the third quarter of 2025, marking a 10% increase at constant exchange rates, confirming growth across all its markets compared to the previous year.
Detailed Financial Performance
In the third quarter of 2025, Hermès posted consolidated sales of 3.9 billion euros, a 10% increase at constant exchange rates and a 5% increase at current exchange rates compared to the same period in 2024. Over the first nine months of the year, total revenue reached 11.9 billion euros, up 9% at constant exchange rates and 6% at current exchange rates. According to the press release, all geographic areas contributed to the growth, with notable increases of 15% at constant exchange rates in Japan, 13% in America, 12% in Europe excluding France, 9% in France, and 4% in Asia excluding Japan. The Middle East and other regions also recorded a 15% increase. The group noted an unfavorable impact of 254 million euros due to exchange rate effects on the revenue by the end of September.
Key Business Segments and Developments
According to the press release, the Leather Goods-Saddlery segment remains the main growth driver (+13% by the end of September), driven by demand for iconic models and new launches. The expansion of the industrial network continues with the opening of a new leather goods facility in L'Isle-d'Espagnac, Charente in September 2025; three more units are expected to be operational by 2028. The Apparel and Accessories sectors grew by 6%, while Silk and Textiles saw a 4% increase. The Perfume and Beauty activities experienced a 5% decline due to a high comparison base. The Watchmaking sector fell by 3% in a 'challenging environment', according to the group, which anticipates the expansion of the Noirmont watchmaking site by 2028. Other Hermès sectors, including Jewelry and Home Arts, grew by 11%. Moreover, Hermès indicated that it had not conducted any share buybacks outside of liquidity contracts.
Continued Development Amid Uncertain Conditions
Hermès emphasizes its ongoing development in an economic, geopolitical, and monetary context described as uncertain. The group maintains its ambitious medium-term revenue growth target at constant exchange rates. The company highlights its integrated artisanal model, the gradual strengthening of its production capacities, and customer loyalty. The year 2025 is themed around drawing, presented by the house as a central thread of its creativity. Key upcoming events include the publication of the 2025 annual results scheduled for February 12, 2026, followed by the announcement of the first quarter revenue on April 15, 2026, and the annual general meeting of shareholders on April 17, 2026.
