Hermès is set to launch a new skincare and cosmetics range next year as the luxury brand looks to break into the lucrative sector.
As reported by Business of Fashion, the collections will be manufactured in France and Italy and will take an eco-friendly approach using plastic-free packaging.
“It’s quite exciting: It’s a new activity, with all the risks that involves, so we will deploy it progressively, initially in our own stores mainly, in a limited distribution so that we can learn,” chief executive Axel Dumas said this week.
“Obviously, we hope to have the biggest scope possible. We are trying to do it humbly and cautiously, because it’s a big market that’s already full of strong players, and therefore we have to find our place in it.”
Hermès is no stranger to the cosmetic and skincare world, producing a body balm as well as its well-known range of fragrances – but the announcement this week shows exciting times are ahead for the French brand
Hermès reports profit increase with strong demand from Asia-Pacific sector
The luxury fashion brand also reported a 10% increase in sales for its fourth quarter last year, with revenue in the Asia Pacific rising faster compared to the previous three months.
Hermès’ recurring operating income increased by 6% to just over €2bn during the year, while net profit rose 15% to €1.4bn. The company has almost matched last year’s all-time high operating margin, reporting 34.3% for last year’s final quarter.
On a call with reporters, Dumas said Hermès will keep their “confidence for the future.”