Runway vs. Revenue: Hermès Q1 2025 – Quiet Confidence, Solid Craft

In a luxury landscape marked by volatility, Hermès remains anchored in discipline and depth.

Solid Growth Amid High Expectations

Hermès reported €4.1 billion in Q1 2025 revenue, up +9% at current rates (+7% constant), a performance that stands out especially considering the high base of comparison from 2024.

Growth was visible across all geographic regions — from Japan (+17%) to France (+14%), the Americas (+13%), and even Asia-Pacific, which posted gains despite macro headwinds. Every métier contributed, with Leather Goods up +10% and Ready-to-Wear rising +7%.

In a space where consistency is rare, Hermès continues to deliver.

A Model Built on Integration

Executive Chairman Axel Dumas attributes this performance not to external winds, but to Hermès’ integrated artisanal model: a system built on craftsmanship, vertical control, and product excellence.

Their long-term outlook remains unchanged — a sign of clarity in a time when many are rethinking forecasts.

Profit-Sharing: €500M in Purpose

In line with its values, Hermès will distribute over €500 million in 2025 to employees as part of its profit-sharing initiative. This isn't just generosity — it’s culture. And it reinforces the kind of long-term thinking luxury should be built on.

Eyes on the U.S.: Price Increases Coming

As of May 1st, Hermès will implement price increases in the U.S. across all business units, in response to new tariff regulations. The precise impact remains to be seen, but Hermès’ confidence suggests that their client base — loyal and globally aspirational — will understand.

Conclusion

Where others adjust, Hermès advances — with measured conviction.

The brand’s ability to combine financial strength, craft integrity, and cultural responsibility makes it one of the most resilient players in luxury today. And it continues to remind the industry: in true luxury, the difference lies not in the noise — but in the model.