HERMÈS - 2018 Registration document

Overview of the group

Stages of the Group’s history

STAGES OF THE GROUP’S HISTORY

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Hermès holds a unique position in the luxury market, which was valued at €260 billion in 2018 (source: Bain & Company’s Global Luxury Study). The Group is therefore, relatively speaking, less exposed to general changes in the sector. Today, the Group employs 14,284 people worldwide and has 310 exclu- sive stores, 219 of which are directly operated. Although it has achieved international stature, Hermès has never lost its human touch and conti- nues its tradition of fine craftsmanship. The history of MaisonHermès began in a harness-makingworkshop ope- ned in 1837 by Mr Thierry Hermès, in rue Basse-du-Rempart, a stone’s throw from a Paris district that was awakening to modern life and its breath-taking pace. Gradually, generation after generation, the House followed this dual thread– thepainstaking, patient work of the craftsman in his workshop, and the busy, active lifestyles of its customers. In 1880, Mr Charles-Émile Hermès, son of the founder, moved the workshops to 24, Faubourg Saint-Honoré, closer still to the economic, cultural and social pulse of Paris, and added a store where private cus- tomers could order bespoke harnesses and saddles. When his son Adolphe, soon joined by his brother Émile, took over in the early 20th century, the House was temporarily renamed Hermès Frères. Émile nurtured a great love for the history of humanity, the arts and craft- manship, as illustrated by his collection of curiosities, in which objects related to sophistication, travel and transport feature prominently. The Hermès emblem was also born of a piece in his collection: Duc attelé, groom à l’attente (Hitched carriage, waiting groom), a drawing by Alfred de Dreux, a minor 19th century master and student of Géricault, depic- ting a duc , or phaeton, a sporty carriage intended mainly for women. The stylised image, registered as a trademark, has identified the House since 1945. In the interwar years, lifestyles changed and the House innovated, for example retaining exclusive rights to the zip fastener, which was used for luggage and clothing, in 1922. While remaining loyal to the equestrian world, Hermès expanded its activities into other fields, skilfully negotia- ting the hurdle of diversification through its mastery of raw materials and culture of craftsmanship. These were all passions of Mr Robert Dumas, one of Mr Émile Hermès’ sons-in-law. At the helm of the House from 1951, he was a frequent visitor to the workshops and designed objects with mechanisms (buckles, clasps, saddle nails, small chains and anchor chains) of great elegance, which in no way detracted from their practicality and utility. In 1978, his son Mr Jean-Louis Dumas steered the House towards a more international outlook and opened it up to the spirit that permeated the age of communication. More than ever before, Hermès felt the need to proclaim its inherent attachment to savoir-faire . Le Monde d’Hermès was introduced in France in 1975 and became biannual in 1992, with increased contributions from designers. With the same ambition for an inspired and inspirational House, in 1987 Mr Jean-Louis Dumas orga- nised a 150th anniversary party that culminated with a firework display

on the Pont Neuf bridge in Paris. Ever since, a new theme has each year illuminated theHouse’s activitieswith the same celebratory and forward- looking focus. In 2006, Mr Patrick Thomas continued this expansion and provided the transition to the sixth generation of the family: after his cousin Mr Pierre-Alexis Dumas, the son of Mr Jean-Louis Dumas, was appointed Artistic Director in 2009 and had opened up a whole new chapter by founding the Fondation d’entreprise Hermès, Mr Axel Dumas became Executive Chairman in 2013. Hermès, which for over 150 years has been synonymous with saddlery, has enriched its métiers without deviating from its strict quality stan- dards. The list is long, and includes leather goods, watches, boot making, jewellery, silk, crystal, precious metals and fragrances, as well as men’s and women’s ready-to-wear, tableware, furnishing fabrics, wallpapers and petit h, one of the most recent enterprises of this family-run House whose industrial expansion takes on its full meaning when it extends the reach of the values of craftsmanship. 1837 s s Harnesses

1867 s s Saddles

Around 1900 s s Haut courroies bag, designed by Émile Hermès

1903 s s Rocabar blanket

1922 s s Belts

1923 s s Two-handled bag

1924 s s Gloves with zipper

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

1927 s s Wristwatches s s Filet de selle bracelet

2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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