Hermès reaches €4.096 billion in the third quarter. The growth in leather goods contrasts with the decline in ready-to-wear and watches.
A house’s growth is not necessarily spread across all of its crafts. Hermès’s press release of 22 October offers a clear reading: in the third quarter of 2026, sales total €4.096 billion, up 5.5% at current exchange rates and 4.3% at constant exchange rates.
Leather sets the measure
Leather goods and saddlery reach €1.912 billion, up 10.8% at constant exchange rates. On the same basis, ready-to-wear and accessories fall 2%, while watches decline 6%. Perfumes and beauty rise 7.5%.
These gaps make a reading of the total alone insufficient. They show different rhythms within a single signature. Revenue does not, however, allow one to isolate, on its own, the contribution of volumes, prices or product mix to each change.
Telling the strength of one craft from that of the whole
For the luxury observer, the point is to preserve this granularity. A core activity can support sales while leaving other categories in a more delicate position. The success of leather should therefore not be used as an indirect measure of how each collection is received.
The publication reports the quarter’s commercial activity; it is not an income statement by craft. Its most useful contribution is to locate the contrasts precisely. At Hermès, continued growth and varied performance coexist, which invites looking at the objects and their markets separately.
Sources — editorial verification
Hermès International: third-quarter 2026 revenue — 22 October 2026. Accessed 3 November 2026.
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