The store was forced to close early this year after the coronavirus spread outside the initial epicentre of Wuhan. By February, 11 of Hermès’ stores were closed in mainland China. The French house will also no longer be putting on its Resort show in London on April 28, amidst the growing worldwide Covid-19 crisis.
In a financial statement dated March 30, Hermès announced that it will donate €20 million to the public hospitals in the Paris region in addition to the donation of over 30 tonnes of hand sanitiser produced by its fragrance factory in Vaudreuil and more than 31,000 masks. The Financial Times had reported that Hermès was the most profitable luxury fashion brand in 2019 with a profit margin of 34.8 per cent. Its first-quarter sales numbers will be released on April 23.
As several countries around the globe extend their lockdown periods, luxury consumption in a post-coronavirus world may or may not be vastly affected—but Hermes' strong rebound offers a strong sense of hope for retailers.
(Related: Luxury Fashion Conglomerates, Including Kering and LVMH, To Manufacture Surgical Masks To Help Combat Covid-19)