Hermès Maintains its Growth in the Third Quarter of 2026

The leather goods and saddlery division remains the group’s main driver of growth, with sales up 10.8 per cent in the third quarter, compared with a 10.2 per cent increase over the first nine months. This division has accounted for around 46 per cent of turnover since the start of the year. Its strong performance reflects the continued robust demand for the house’s iconic bags and its new creations, as well as increased production capacity. Silk and textiles also show encouraging signs. Whilst their growth slowed to 1.4 per cent in the third quarter, their turnover remains up by 7 per cent over the first nine months. Rooted in Hermès’ history and heritage, silk represents both a creative pillar of the house and a gateway for aspirational customers wishing to purchase their first Hermès product. Conversely, ready-to-wear and accessories fell by 2 per cent in the quarter, reflecting weaker demand, particularly in China.

The watchmaking sector remains under pressure, with a 1.9 per cent decline over the first nine months of the year. The fall was more pronounced in the third quarter, reaching around 6 per cent, reflecting the continuing difficulties in the luxury watch market. Despite the ongoing expansion of its product range, Hermès operates in a segment where demand remains more difficult to stimulate. Geographically, the Americas (+13.1 per cent over nine months) and Japan (+10.5 per cent) stand out for their dynamism. South Korea is also showing resilience. These contrasting trends highlight the importance of geographical diversification, whilst demand from China remains fragile. In France, the local clientele remains loyal and continues to support the business. However, the recent protests in France, as well as in Italy, are raising questions about tourist confidence and footfall in upmarket shopping districts. A potential decline in the number of international visitors could weigh on sales, particularly among Asian tourists, who constitute a significant customer base for European luxury boutiques.

In a statement, Axel Dumas, CEO of Hermès, expressed his confidence: “Despite a complex environment, Hermès is continuing its profitable growth and staying on course […]. It is with great enthusiasm that we are preparing for a new year rich in creative output, featuring the first menswear ready-to-wear collection by Grace Wales Bonner and the launch of the Couture collection by Nadège Vanhée next January.’ These announced launches illustrate the brand’s commitment to renewing its creative offering whilst preserving its artisanal foundations.