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Hermès executive chairman Axel Dumas cited Asia’s economic performance, being well prepared on digital and the importance of the local clientele for the strong performance despite the pandemic’s reduction in tourists. E-commerce grew triple digits in 2020, the executive said. “If you’re really an omnichannel company, you are not looking at how much you do in stores and how much you do in e-commerce,” he says. In a dreadful year for the industry, Hermès has posted an “outstanding result”, Bernstein analyst Luca Solca says. “Hermès benefits from top desirability across borders, and long waiting lists on its iconic products.”

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