April 2023

PARIS — Hermès cut the equine-embossed ribbon on its newest leather goods factory on Friday, just days after its market cap soared past the 200 billion-euro mark. “We’ve had good results this 12 months,” chief executive officer Axel Dumas acknowledged throughout the symbolic cutting ceremony, barely underplaying the stellar sales numbers. “This development allows us to open one other leather workshop to create local jobs that export goods to the 4 corners of the world.” The in-demand Kelly model will likely be the main target of its production, in addition to being the one workshop outside of Paris that produces saddles. The brand new facility in Louviers, Normandy, sits two hours outside of the French capital. Executive vice chairman, manufacturing division and equity...