Luxury fashion brand Hermès is to award nearly $118 million (£97.6 million) in bonuses to all of its 25,000 employees, following its 2024 end-of-year results.
The Paris-based retailer has 25,185 members of staff and more than 16,000 employee shareholders.
In a presentation of its full-year results, Hermès stated that it will deliver its promise to share its success with staff and confirmed that employees will receive a €4,700 bonus (£3,890) each. Last year, employees received a €4,000 (£3,311) bonus. The organisation’s revenue for the 2024 financial year was €15.2 billion (£12.5 billion).
On the call, executive chairman Axel Dumas said: “Faithful to its responsible employer commitment and the will to share the fruit of its growth with those who contribute every day to it, Hermès will be distributing at the beginning of the year a bonus of €4,500 to all employees worldwide in 2024.
“In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermès model and the agility of the house’s teams, whom I thank warmly. While preserving the group’s major balances and its responsibility as an employer, the house is staying the course, attached more than ever to its fundamental values of quality, creativity and savoir-faire.”
The Hermès Group also offers its employees policies to prevent accidents at work, occupational diseases and musculoskeletal disorders and keep people in work if these issues arise, a work-life balance and flexibility agreement, performance-related and profit-sharing schemes depending on the country, employee share ownership plans, health insurance and welfare schemes, voluntary social security cover, a maternity policy which includes full retention of basic pay for a minimum of 16 weeks’ leave and 100% coverage of maternity health costs, and a defined contribution pension scheme for eligible French employees.
