Hermès Employees to Receive 4,500 Euro Bonus Following Strong 2024 Financial Performance

Hermès employees will receive a 4,500 euro bonus in response to the company's strong 2024 financial performance. This bonus is a reflection of Hermès' commitment to sharing the fruits of its success with its employees.

Hermès has made a habit of gifting year-end bonuses to its employees, but the amount has steadily increased over the last five years. The company offered a 1,250 euro bonus following its 2020 financial results, then handed out a 3,000 euro bonus the following year. The bonus was bumped to 4,000 euros following the company's 2022 and 2023 financial results.

The company's financial results are a bright spot in the luxury industry, where some companies struggled to navigate a market slump in 2024. Share prices for LVMH, Burberry, and Kering all dropped last year.

Would-be luxury shoppers in China cut back on spending amid an economic crisis, while inflation prompted many Americans to avoid pricey luxury goods. In Europe, uncertainty surrounding politics led shoppers to hesitate.

"50 million luxury consumers have either opted out of the luxury goods market or been forced out of it in the last two years," Claudia D'Arpizio of consulting firm Bain & Company said in a November report.