HERMÈS - 2019 Universal Registration Document

COMMENTS ON THE FINANCIAL YEAR AND OUTLOOK OUTLOOK

Thanks to its unique business model, Hermès is pursuing its long-term development strategy based on creativity, maintaining control over know-how and singular communication. With pride in its artisanal model, in 2020 Hermès pays tribute to the extraordinary tool that is the human hand, as well as to the ingenuity that drives every one of the House’s craftsmen and women. For it is this combination that characterises the innovative spirit of Hermès, its commitment to Innovation in the making. In the medium term, despite economic, geopolitical and monetary uncertainties around the world, the Group confirms an ambitious goal for revenue growth at constant exchange rates

The impact in 2020 of the COVID-19 epidemic – the scale, length and geographic scope of which are changing daily – is currently difficult to assess. The craftsmanship model set up mainly on French territory, the balanced distribution network and its local customer base are all elements that contribute to the House's resilience. The Group remains highly involved and committed by regularly assessing the situation and adapting its procedures. As for the countries affected, the priority is the safety of all employees and their close families, in line with the measures taken by medical and public authorities. At the date of filing this Universal Registration Document, and believing that this epidemic and the ensuing disruption will have passed within a few months, we remain confident that our employees will then be able to return and reconnect with our customers once more.

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2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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