HERMÈS - 2019 Universal Registration Document

OVERVIEW OF THE GROUP STAGES OF THE GROUP’S HISTORY

STAGES OF THE GROUP’S HISTORY

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For more than 150 years, Hermès has developed its métiers without ever losing sight of its high quality standards, and the entrepreneurial model that has emerged is quite unique today. Going against the tide of industrial and global standardisation, Hermès endeavours to offer a unique selection of objects in each of its 311 stores.

Hermès holds a unique position in the luxury market, which was valued at €281 billion in 2019 1. . The Group is therefore, relatively speaking, less exposed to general changes in the sector. Today, the Group employs 15,417 people worldwide and has 311 exclusive Hermès stores, 223 of which are directly operated. Although it has achieved international stature, Hermès has never lost its human touch and continues its tradition of fine craftsmanship. The history of Maison Hermès began in a harness-making workshop opened in 1837 by Mr Thierry Hermès, rue Basse-du-Rempart in Paris. Gradually, from one generation to the next, the House followed this dual thread – the painstaking, patient work of the craftsman in his workshop, and the busy, active lifestyles of its customers, always keeping true to the spirit of freedom and creation. In 1880, Mr Charles-Émile Hermès, son of the founder, moved the workshops to 24, Faubourg Saint-Honoré, and added a store where customers could order bespoke harnesses and saddles. The company had already earned a reputation for the care it took to personalise its creations. In the interwar years, lifestyles changed and the House innovated, under the leadership of the founder’s grandson, Émile Hermès. In 1922, it gained exclusive rights to the zipper, used for luggage and clothing. While remaining loyal to the equestrian world, Hermès expanded into other métiers , leveraging its mastery of raw materials and its culture of craftsmanship. At the helm of the House from 1951, Robert Dumas, one of Émile Hermès’ sons-in-law, was a frequent visitor to the workshops and designed objects with mechanisms of great elegance (buckles, clasps, saddle nails, and anchor chains) which in no way detracted from their utility. Hermès objects were remarkable for the nobility of their materials, the mastery of savoir-faire , and creative boldness – the silk métier was then commissioning artists to create original motifs. From 1978, his son, Jean-Louis Dumas, devoted himself to really making the House stand out. In 1987, for the saddler’s 150th anniversary, a memorable firework display inspired the first theme of a tradition that continues to today: to nourish each year’s creations with a shared inspiration. Jean-Louis Dumas drove the Group’s international expansion, gradually opening a series of Maisons Hermès, on Madison Avenue in New York in 2000, in the Ginza district of Tokyo in 2001 – an edifice in glass bricks designed by Renzo Piano – then in Dosan Park, Seoul in 2006. From 2006, Patrick Thomas developed a decentralised organisation structure for the métiers and managed the transition with the sixth generation of the family. Appointed Artistic Director in 2005, Pierre-Alexis Dumas, Jean-Louis Dumas’ son, opened a whole new chapter by establishing the Fondation d’entreprise Hermès. Axel Dumas, Executive Chairman since 2013, boosted the house’s growth dynamic with the opening of the fifth Maison Hermès in 2014 in Shanghai. Amongst others, he drove the group’s digital strategy, which culminated in the revamping of the hermes.com website in 2018.

1837 Harnesses s

1867 Saddles s

Around 1900 Haut courroies bag, designed by Émile Hermès s

1903 Rocabar blanket s

1922 Belts s

1923 Two-handled bag s 1924 Gloves with zipper s

Starting in 1925 First sports jacket, followed by the development of women’s and s men’s fashion Mallette à coins rapportés s

1927 Wristwatches s Filet de selle bracelet s

1928 Ermeto watch s Sac à dépêches s

1930 Diaries s

1937 First silk scarves s

Source: Luxury Goods Worldwide Market Study by Bain & Cie. 1.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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