Hermès recently held its annual general meeting, and despite the global crisis, the luxury brand showcased its impressive results for 2020 with confidence and resilience. The meeting, which took place virtually from the company’s offices in Pantin, featured speeches from managers and videos showcasing Hermès’ accomplishments.

One of the meeting’s highlights was the unveiling of a video campaign for the new Kelly bag, which highlighted the company’s continued success. The video campaign showcased the brand’s dedication to craftsmanship and innovation.

During the meeting, three key elements were emphasized. Firstly, Hermès acknowledged the importance of employee engagement and recognized their hard work by rewarding them with a special bonus in 2021. This commitment to its workforce demonstrates the brand’s dedication to maintaining a positive work environment.

Secondly, Hermès highlighted its commitment to craftsmanship, creativity, and innovation, which are essential in maintaining the brand’s high standards of quality. These values contribute to the brand’s ongoing success and set it apart from its competitors in the luxury market.

Lastly, Hermès emphasized its long-term strategy, which is driven by its shareholding family. In line with this strategy, the brand announced its decision to transform its general partner, Émile Hermès SARL, into a simplified joint-stock company. This change will enable younger family members to take part in the company’s management, ensuring the brand’s longevity and preservation of its core values.

The resolution for this transformative change was approved by an overwhelming majority of 99.96% of votes, further reinforcing the company’s commitment to its long-term vision.

Axel Dumas, the CEO of Hermès, stressed the significance of the human element in the brand’s success. Despite the challenges faced in 2020, Hermès managed to create over 1,100 jobs, bringing its total workforce to 16,600 individuals. Notably, half of the company’s workforce consists of skilled artisans who contribute to the brand’s exceptional craftsmanship.

Additionally, Hermès invested in its sales network and supply chain by acquiring J3L, a supplier of metal items for leather goods. This strategic move demonstrates the brand’s dedication to maintaining the highest standard of quality throughout its supply chain.

In terms of financial performance, Hermès boasted solid results in 2020, with a strong cash flow and net cash of 4.9 billion euros. The proposed dividend of 4.55 euros per share, unchanged from the previous year, was also approved during the meeting, further solidifying the brand’s financial stability.

The general meeting concluded with shareholders being directed to the company’s financial website for any additional inquiries, showcasing Hermès’ commitment to transparency and open communication with its stakeholders. The date for next year’s meeting was announced as May 3, 2022, indicating the brand’s commitment to regular and timely updates for its shareholders.

Overall, Hermès’ virtual general meeting exemplified the brand’s resilience and confidence in navigating challenges and capitalizing on opportunities in the luxury market. With its unwavering commitment to quality, innovation, and employee satisfaction, Hermès continues to establish itself as a leader in the luxury fashion industry.

Useful Links:
– Website: [Hermès Official Website](https://www.hermes.com/)
– Financial Information: [Hermès Financial Reports](https://finance.hermes.com/en/home/)