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Hermès grows watch sales by 23%

Hermès has reported a 23% rise in watch sales in 2023.

Group sales rose by 21% at constant currency rates to €13,427 for the financial year.

Net profit hit €4,311 million, a rise of 28%.

Axel Dumas, executive chairman of Hermès, says the luxury maison delivered outstanding performance in all métiers and across all regions against a high base.

“These solid results reflect the strong desirability of our collections and the commitment and talent of the house’s women and men. I thank them all warmly,” he adds.

The French fashion house appears to have outperformed rivals such as Kering, with growth across all business lines and all territories.

Sales in America rose 21% while Europe was up by 20%.

Hermès has quietly built a hugely successful watch business over the past decade and generated sales worth €611 million last year.

Its financial report namechecks its Hermès H08 line as a great success that welcomed several new models in 2023.

Hermès sells its watches exclusively through its own boutiques.

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