After LVMH and Kering, Hermès also published an exceptional set of H1 21 results.
All divisions reported triple-digit growth in Q2. In addition to the strong top-line momentum, the operating margin reached an all-time high (40.7% vs. 34.8% in H1 19), mainly thanks to relatively higher stocks from 2020, lower fixed costs and geographic mix.
The group expect the re-acceleration in marketing spending and higher investment will normalise the margin in H2 21.
30 Jul 2021
Triple-digit growth across all divisions in Q2
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Triple-digit growth across all divisions in Q2
- Published:
30 Jul 2021 -
Author:
Jie Zhang -
Pages:
3
After LVMH and Kering, Hermès also published an exceptional set of H1 21 results.
All divisions reported triple-digit growth in Q2. In addition to the strong top-line momentum, the operating margin reached an all-time high (40.7% vs. 34.8% in H1 19), mainly thanks to relatively higher stocks from 2020, lower fixed costs and geographic mix.
The group expect the re-acceleration in marketing spending and higher investment will normalise the margin in H2 21.