French luxury brand Hermes to give 3.5 lakh bonus to each of 19700 employees2 min read
6 percent increase in the salary of employees based in France with the announcement of bonus
The brand specializes in leather goods, fashion accessories and lifestyle products
The company said that the payment of this bonus is part of the “value sharing” policy.
Paris, A French luxury brand has decided to distribute a part of it among its employees after earning better profits. French luxury brand Hermès has decided to give a one-time annual bonus of €4,000 (about Rs 3.5 lakh) to each of its 19,700 employees globally amid rising sales and profits, according to a Money Control report. Have done. The report states that the bonus will be paid at the end of February.
While giving more information, the French magazine Le Monde said that with the announcement of the bonus, the salary of the employees based in France has been increased by 6 percent. Let us tell you that this brand specializes in leather goods, fashion accessories and lifestyle products. In a meeting with analysts last week, CEO Axel Dumas introduced the year-end bonus, saying the 12,400 Hermes employees in France would receive the equivalent of 17 months’ salary annually, including profit shares and incentive bonuses.
The company said that the payment of this bonus is part of the “value sharing” policy and goes hand in hand with the increase in the dividend distributed to the shareholders. It is noteworthy that a report in the Business of Fashion said that in 2022, Hermès, known for hand-stitched handbags, earned €11.6 billion in sales, or 23 percent more than in 2021. For comparison, Hermès ranks third behind two other luxury brands, Louis Vuitton and Chanel, with this much revenue. At the same time, the company said that it created 2,100 jobs in a year, including 1,400 in France. Its workforce has doubled in the last 10 years.
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Tags: brand, fashion, france
FIRST PUBLISHED : February 24, 2023, 05:00 IST