A French luxury design firm has announced that everyone on its team will receive a special bonus of €4,000 at the end of February ( ₹3.5 lakh). The Paris-based design company has adhered to its handcrafted style ever since 1837.
The freedom to create, the ongoing search for gorgeous materials, and the passing down of outstanding knowledge that enable the development of functional, attractive items that endure are what make Hermes distinctive, as per the company itself.
In the midst of the company’s booming sales and earnings, Hermes will provide the one-time year-end incentive to each of its 19,700 employees.
Hermes reported on February 17 that fourth-quarter revenues increased 23% year on year, currency fluctuations excluded. After Louis Vuitton and Chanel, the premium leather goods manufacturer was able to restore its ranking as the third-largest brand in luxury fashion, thanks to a 29% increase in full-year revenues to €11.6 billion ( ₹1 lakh crore).
Hermes, amid record profits, will distribute nearly €1.4 billion to investors via its dividend of €13 per share, up 63% from its €8 payout in 2022.
CEO Axel Dumas discussed the year-end bonuses and strategies for maintaining hiring at a meeting with analysts on February 17. He also announced the opening of two new production facilities in France.
The company increased its global employment by 2,100 employees in 2022, while average pay increased by 6%.
