After doubling in size in three years, Hermès wants to continue galloping. In 2023, the saddler even took advantage of the market slowdown to widen the gap even faster with the majority of luxury houses.
Driven by strong demand for all its product categories, its turnover jumped 20.6% last year, to 13.4 billion euros. Its operating profit increased from 4.7 to 5.6 billion euros, showing a historically high operating margin of 42.1%.