Hermès H1 revenue rises as Japan leads growth

Japan recorded the strongest regional growth at 11%.

Hermès reported consolidated revenue of $9.45b (€8.2b) in the first half of 2026, up 6% at constant exchange rates from a year earlier.

Revenue increased 2% at current exchange rates, whilst recurring operating income rose slightly to $3.92b (€3.4b), equivalent to 41% of sales.

Second-quarter sales reached $4.73b (€4.1b), up 7% at constant exchange rates, reflecting a slight acceleration from the first quarter.

In Asia excluding Japan, sales grew 2%, driven by continued growth in Greater China and an outstanding performance in South Korea.

Hermès expanded its footprint in the region during the first half, opening a new store in Hanoi, Vietnam, in January and another in Beijing's Sanlitun district in April. The company also reopened its Hong Kong Elements and Taipei Sogo Fuxing stores at the end of April following renovation and expansion works.

In May, Hermès staged its Hermès in the Making travelling exhibition in Shanghai, showcasing the craftsmanship of its artisans.

Japan posted 11% growth, with sales accelerating in the second quarter on the back of strong store traffic and continued loyalty from local customers.

The luxury retailer also completed the expansion and renovation of its Hilton Plaza East store in Osaka in May before opening a new store in Nagoya in June.

Across the group, all regions recorded growth except the Middle East, which declined slightly amid a challenging operating environment. The Americas, Japan and Europe excluding France delivered strong growth in both the first and second quarters.

“In the first half of 2026, Hermès delivered a solid performance, which reflects the strong desirability of its 16 métiers and the trust of its clients,” said Executive Chairman Axel Dumas. “Convinced by the strength of our unique artisanal model and in control of our key balances, we look to the second semester with confidence.”