Employees of Hermes, the Paris-based French luxury brand, will receive a bonus of €4,000, that is, about Rs 3.5 lakhs each. The Company posted huge profits in 2022.
It was only in 2022 that the employees in France were granted a six per cent hike in salaries. In January 2022, the employees in France were granted a hike of about €100, that is, about Rs 9,000.
The fashion brand is known for its jewellery, fashion accessories, leather goods, fashion accessories, home decor, garments and lifestyle products.
In 2022, the Company sold products worth €11.6 billion euros, which was 23 per cent more than in 2021. In 2022, the brand also hired 2,100 employees globally and the salaries went up six per cent on an average. With two new manufacturing units being set up in France, it will continue to hire.
The Company’s shareholders are also being paid a high dividend. This bonus payment is part of the firm’s ‘value-sharing’ policy.
Hermes’ hand-sewn bags are a popular luxury item. In fact, they bagged headlines when Joseph Lau, the tycoon from Hong Kong sold off several Hermes bags at an auction by Sotheby’s. The bags reportedly fetched $3.2 million. It is reported that Lau’s family still possesses over 1,000 bags of the brand.
The 12,400 employees of Hermes in France will receive incentives and bonuses every year, equivalent to 17 months’ salary. This also includes a share of profits.
