Hermès, a luxury brand based in Paris, had an exceptional year of development, with sales rising for four straight quarters. The company is now rewarding its staff members with the windfall. That is one of the greatest distributions made by the corporation ever, after increasing the dividend for its shareholders by 63 per cent.
A jubilant Hermès has reached record profits, with sales soaring more than 20 per cent to 11.6 billion euros of combined revenue at current currency rates. Hermès CEO Axel Dumas said that all 19,700 workers worldwide would receive an unusual bonus of 4,000 euros at the end of the month as part of the company’s value-sharing culture.
The incentive comes after a prior 6 per cent wage raise for the company’s French-based staff and a 100 euro increase given in January 2022 and again the following July, according to the French newspaper Le Monde.
The bonus goes hand in hand with a rise in the dividend paid to shareholders, which was increased to 13 euros from 8 euros for the 2021 fiscal year distribution and is projected to be over 1.4 billion euros, according to Hermès, as part of its value-sharing program.
