Hermès - Registration Document 2016

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COMMENTS ON THE FINANCIAL YEAR AND OUTLOOK

OUTLOOK

OUTLOOK

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True to its history of singular communication, Hermès will continue to devise rich and surprising events, whose impact will be enhanced by a series of media-wide campaigns. The events strategy will remain extre- mely dynamic with the Saut Hermès at the Grand Palais, events inspired by our universes (women, men and home), aswell as the Festival Hermès Hors les Murs and petit h sales events and celebrations for the opening and reopening of stores in London, Munich, Dosan Park and Toronto in particular. Digital activities will intensify, with the progressive launch of the new Internet platform at the end of the year. Meanwhile, the house’s other business lines will continue to draw on their know-how to design and produce exceptional objects. In 2017, Hermès will be celebrating the «Meaning of objects». Hermès, by the richness of its creations and the radicality of its style, elegantly accompanies today’s men and women in their everyday lives. And it is this ambition that gives meaning to our objects. In the medium term, despite growing economic, geopolitical and mone- tary uncertainties around the world, the Group confirms an ambitious goal for revenue growth at constant exchange rates. Thanks to its unique business model, Hermès is pursuing its long-term development strategy basedon creativity,maintaining control over know- how and singular communication.

In an increasingly complex and ambiguous environment, Hermès has to preserve the values of craftsmanship and humanism that define us. Loyal to these values, faithful to our foundations and true to our model, we will continue to grow the house and let it shine throughout the world. While Hermès is proud of its long tradition, our collective project is never- theless forward-looking. We shake up tradition, all the better to reinvent it. We modernise, without losing our original force. Hermès will confidently pursue its development strategy based on the excellence of its craftsmanship and creativity, and bolstered by the per- formances of recent years. The qualitative development of our network will be pursued with the ope- ning of three new stores, notably in Sao Paulo in Brazil and Changsha in China. Priority will be given to extensions and renovation in over twenty stores around the world. In light of our particularly strong growth, Hermès will continue to increase its production capacities. High demand for Leather Goods and Saddlery, thanks to the success of the collections and the diversity of models, will be supported by the ramp-up of new sites in Isère, Charente and Franche Comté, by the projects of the site in L’Allan, and the extensions of the sites in Vaudreuil in Normandy and Saint-Junien in Limousin. The integration of Les Tanneries du Puy, specialised in the production of Box calfskin, continued, reinforcing the house’s policy of preserving its know-how.

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2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL