Hermès Will Pay a One-Time Year-End Bonus of €4,000 to Each of Its 19,700 Employees — Retail Bum

Parisian fashion house Hermès will be sharing some of its profit gains with its employees following a year of stellar growth.

The company plans to hand out €4,000 per employee in a company bonus to all 19,700 employees at the end of February 2023.

The growth underpins four consecutive quarters of increased sales and full-year revenues that rose by nearly 30% to €11.6 billion.

Hermès’ CEO Axel Dumas said the bonus was part of the company’s value-sharing policy, which aims to share the company’s success with employees.

Last year, the company increased its wages twice, raising them by 6% for its France-based employees in January and then again in July, according to the French newspaper Le Monde.

In addition to its bonuses, Hermès also increased its dividend payout to 63%, making it one of its highest-ever payouts to date. That said, the Hermès family holds the majority of shares, amounting to roughly 66%. Another notable investor is the Arnault family, owners of LVMH, which owns a 1.87% stake.

Originally published at https://retailbum.com on February 21, 2023.