French Luxury Design Firm which is still growing strong after nearly 200 years of business operational history has announced that each and employee on its rolls will receive a special bonus of Euro 4000 at the end of February.
French Design Firm Hermes announces specal bonus for employees
Hermes a Paris based design company is a reputed and legacy name in the Industry and has adhered to its handcrafted style ever since 1837. Over the years Hermes has created a distinctive niche for itself and is committed towards ongoing search for gorgeous materials and original designs. It is a name to reckoned and revered in the Industry on account of its commitment to originality and innovative designs.
Company has announced it has recorded and reported booming sales and earnings and will provide one time incentive to each of its 19,700 employees.
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Hermes revenue growth 23% YoY
Hermes has recorded a 29% increase in its full year revenue i.e. Euro 11.6 billion (Rs 1 lakh crore) and has restored its position as third largest brand in the luxury fashion after Luis Vetton and Channel. It has also reported that its fourth quarter revenue increased 23% year on year.
Amid record profits Hermes will distribute nearly Euro 1.4 billion to its investors via its dividend of Euro 13 per share , up 63% from its Euro 8 payout in 2022.
In his meeting with analysts , CEO Axel Dumas discussed year-end bonuses and strategies for maintaining hiring , in lieu of its sales revenue increase. Further, he also announced opening of two new facilities in France. In Hermes the average pay of employees increased by 6% and there was also an increased in its employee head count as 2100 new employees joined the legacy company.
Global Market Outlook for Hermes
The Americas was an exceptional year for Hermes and it recorded 32% sales surge
Asia with the exception of Japan (22%), continued to be the dynamic market for Hermes
In China Hermes experienced a continuous increase in sales and it established a fourth location in Shanghai’s Qiantan neighborhood
In October, Hermes opened a store In Pangyo , South Korea
Many stores including the Hyundai Corex store in Seoul and the Hong Kong International Airport store were reopened after renovation and expansion work.
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