Bernstein reports that the trends observed in the second quarter of 2026 for Hermes remain broadly in line with those of the first quarter across most regions, with South Korea standing out as the primary exception due to particularly favorable momentum.
The analyst notes that the weakness in ready-to-wear during the first quarter was partly linked to the footwear segment, while new arrivals in women's ready-to-wear are showing strong sell-through rates.
According to Bernstein, the growth framework for leather goods remains unchanged, with price increases of approximately 5-6% and volume growth of 6% expected for the fiscal year, as volumes are projected to improve gradually throughout the year.
The research firm adds that in the United States, underlying demand remains very dynamic despite the fading mechanical effect of price hikes previously implemented to offset customs duties.
Shortly before 5:30 p.m. in Paris, the stock was up 1.4%.
Hermès International specializes in the design, manufacturing, and marketing of luxury products. Net sales break down by family of products as follows:
- leather and saddlery goods (44.2%): purses, luggage, small leather goods, planners, writing items, saddles, bridles, riding objects and clothing, etc.;
- clothes, shoes, and accessories (28.3%);
- silk and textile products (6%);
- clock and watchmaking articles (3.4%);
- perfumes and beauty products (3.1%);
- other (15%): mainly jewelry and home decoration products.
At the end of 2025, the group had a network of 294 stores worldwide.
Net sales are distributed geographically as follows: France (9.8%), Europe (14.8%), Japan (9.9%), Asia/Pacific (41.9%), Americas (19.2%) and Middle East (4.4%).
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