Hermès stock slips as leather goods lead uneven luxury demand

Published on 11/10/2026 at 18:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hermès stock slipped below the latest Xetra close on Tuesday evening. Nine-month growth was led by leather goods, while watches and beauty contracted.

Growth remains led by leather goods

Hermès increased nine-month revenue by 6 percent at constant exchange rates.
The Americas, Japan and Europe excluding France led regional growth, while the Middle East declined.
Watches and perfume and beauty contracted, leaving investors focused on the durability of premium demand.

Hermès International, FR0000052292, Illustration mit AI erstellt.

Hermès stock traded at 1,336.00 euros on Lang & Schwarz at 18:01 CET on Tuesday, November 10, 2026, 1.00 percent below the Xetra close of Monday, November 9, at 1,349.50 euros. The quote was 2.50 percent below the 1,370.25 euros reported at 08:08 CET in the latest same-day premarket report.

Leather goods lead growth

The latest operating update points to a split luxury picture. World Footwear reported on October 27 that Hermès generated 12.3 billion euros of revenue in the first nine months of 2026, up 6 percent at constant exchange rates and 3 percent at current exchange rates from the same period a year earlier.

Third-quarter sales reached 4.1 billion euros and rose 4 percent at constant exchange rates. The Americas led regional growth at 13 percent in the first nine months, followed by Japan at 11 percent and Europe excluding France at 9 percent. Greater China was stable, while the area mainly covering the Middle East declined 4 percent.

Category mix stays uneven

Leather Goods and Saddlery remained the strongest division, with sales up 10 percent at constant exchange rates. Silk and Textiles increased 7 percent, while the division including Jewellery and Home rose 3 percent. Ready-to-Wear and Accessories grew 1 percent.

Pressure was more visible elsewhere. Perfume and Beauty fell 1 percent and Watches declined 2 percent. For investors, the figures leave the durability of leather-goods demand as the main test for Hermès, while weaker categories and the Middle East limit the breadth of growth.