The luxury brand confirmed the continuity of its financial strategy at its general meeting on Tuesday and announced changes in the legal status of Émile Hermès SARL in order to welcome new members of the Hermès family.
Birkin bag maker Hermès weathered the coronavirus pandemic better than luxury goods rivals, with sales recovering sharply in the final part of 2020 thanks to a strong performance in Asia and soaring online revenues.
A few weeks after announcing the future opening of factories in the French regions of Normandy and the Ardennes, the luxury label said that it will open a new leather goods workshop in the Auvergne region by 2023.
On Friday, French luxury brand Hermès announced the commencement of work on a new leather goods production site in Louviers, Normandy. The site is scheduled to open its doors in 2022 and will accommodate 250 artisans.
As France began to exit its strict coronavirus lockdown, many of its luxury brands also opened their doors, giving sanitary protocols a makeover and testing people's appetite for splurging after the global shutdown.
The luxury industry is assessing the first effects of the relaxation of lockdown regulations in China. Most shops have been reopened since around a month and a different market appears to be emerging after the crisis.
Hermès has weathered the global coronavirus crisis better than rivals, with a 7.7% decline in first-quarter comparable sales, and said business was picking up strongly in China after shops reopened last month.