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1、UNIVERSAL REGISTRATION DOCUMENTIncluding the Annual Financial Report2022MESSAGE FROM THE EXECUTIVE MANAGEMENT5HIGHLIGHTS 2022 61PRESENTATION OF THE GROUPANDITS RESULTS 9 2CORPORATE SOCIAL RESPONSIBILITY ANDNON?FINANCIAL PERFORMANCE45 4RISK FACTORS AND MANAGEMENT 3655CONSOLIDATED FINANCIAL STATEMENTS
2、 3976PARENT COMPANY FINANCIALSTATEMENTS 4497INFORMATION ON THE COMPANYANDITS SHARECAPITAL 4778COMBINED GENERAL MEETING?OF 20 APRIL 20235099ADDITIONAL INFORMATION 557CONTENTS The sections of the Annual Financial Report are identified in the contents with the AFR pictogram.Elements constituting the st
3、atement of non-financial performance are clearly identified in the contents with the NFPS pictogram.AFR AFR AFR AFR AFR AFRNFPSAFR AFR AFR AFR AFR AFR AFR AFRSupervisory Board corporate governance report 255 3CORPORATE GOVERNANCE 253 1.1Six generations of craftspeople 10 1.2Group governance13 1.3Str
4、ategy14 1.4Simplified organisation chart and Group locations 17 1.5Key financial and non?financial figures23 1.6Revenue and activity by mtier 26 1.7Revenue and activity by geographical area 35 1.8Comments on the consolidated financial statements 39 1.9Significant events since the end of the financia
5、l year40 1.10Outlook 41 1.11Fondation dentreprise 43 2.1Business model 49 2.2People:teams 67 2.3People:savoir?faire95 2.4The planet:raw materials 113 2.5The planet:environment 143 2.6Communities:suppliers&partners 183 2.7Communities:stakeholders and transparency 197 2.8Ethics Compliance 227 2.9Repor
6、t of one of the Statutory Auditors,appointed asindependent third party,on the verification of theconsolidated non?financial statement243 2.10Reasonable assurance report from one of the StatutoryAuditors on the Identified Sustainability Information ofHerms Internationals non?financial performancestat
7、ement 250 3.1The Companys Corporate Governance Code 255 3.2Ambitious and balanced governance 259 3.3Administrative and management bodies 262 3.4Organisation of the Supervisory Board 274 3.5Functioning of the Supervisory Board309 3.6Specialised committees 319 3.7Evaluation of the Supervisory Board an
8、d Committees 326 3.8Compensation and benefits of Corporate Officers 330 3.9Other information 355 3.10Other information from the Executive Managementreport 362 4.1 Risk factors 3664.2 Insurance policy and risk hedging 3854.3 Risk management,internal control and internal audit 3865.1 Consolidated inco
9、me statement 3985.2 Consolidated statement of comprehensive income3985.3 Consolidated balance sheet 3995.4 Consolidated statement of changes in equity 4005.5 Consolidated statement of cash flows4015.6 Notes to the consolidated financial statements 4025.7 Statutory Auditors report on the consolidated
10、 financialstatements4426.1 Income statement 4506.2 Balance sheet 4516.3 Changes in equity 4526.4 Statement of cash flows 4526.5 Notes to the financial statements 4536.6 Table of results over the last five years 4686.7 Information on payment terms4696.8 Other information on the parent company financi
11、alstatements4706.9 Statutory Auditors report on the annualfinancialstatements 4717.1 Presentation of Herms International 4787.2 Information on share capital and shareholders 4887.3 Dividend policy 4997.4 Stock market information 5007.5 Shareholder information 5048.1 Agenda5108.2 Explanatory statemen
12、ts and draft resolutions 5128.3 Supervisory Board report to the Combined GeneralMeeting of 20 April 2023 5458.4 Statutory Auditors reports5479.1 Persons responsible for the Universal RegistrationDocument 5589.2 Persons responsible for auditing the financial statements5599.3 Consultation of regulator
13、y information 5599.4 Information included by reference 5609.5 Cross?reference tables5629.6 Glossary 579OF 20 APRIL 2023 2022 UNIVERSAL REGISTRATION DOCUMENTHERMS INTERNATIONALThe French language version of this Document dEnregistrement Universel(Universal Registration Document)was filed on March 24t
14、h,2023 with the French Financial Markets Authority(Autorit des Marchs Financiers),as the competent authority under Regulation(EU)2017/1129,without prior approval in accordance with Article9 of said Regulation.This Document dEnregistrement Universel(Universal Registration Document)may be used for the
15、 purposes of a public offer of financial securities or the admission of financial securities to trading on a regulated market only if supplemented by a transaction note and,if applicable,a summary and all amendments totheDocument dEnregistrement Universel(Universal Registration Document).Thegroup of
16、 documents then formed is approved by the French Financial Markets Authority in accordance with Regulation(EU)2017/1129.The digital version of this document is compliant with the PDF/UA(ISO 14289-1),WCAG 2.1 level AA and RGAA 4.1 accessibility standards with the exception of the colour criteria.Its
17、design enables people with motor disabilities to browse through this PDF using keyboard commands.Accessible for people with visual impairments,it has been tagged in full,so that it can be transcribed vocally by screen readers using any computer support.This document is a free translation into Englis
18、h of the Universal Registration Document of the Company issued in French that is available on the website of the issuer.It has no other value than an informative one.Should there be any difference between the French and the English version,only the French language version shall be deemed authentic a
19、nd considered as expressing theexact information published by Herms.Accessible PDF powered by122022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL2022 UNIVERSAL REGISTRATION DOCUMENTHERMS INTERNATIONALIncluding the Annual Financial Report2022 UNIVERSAL REGISTRATIONDOCUMENT342022 UNIVERSAL REGIS
20、TRATION DOCUMENT HERMS INTERNATIONAL5 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONALMESSAGE FROM THE EXECUTIVE MANAGEMENTThe desirability of creative objectsIn 2022,our house met with unprecedented success.All over the world,our customers both loyal and new showed their appreciation for ou
21、r collections.In these uncertain times,they were no doubt seeking colour,fantasy and spirit.They no doubt felt the urge to surround themselves with beautiful materials,objects made with exceptional know?how,and new creations.In the complex economic,health and geopolitical context of 2022,Herms was m
22、ore than ever synonymous with confidence.These results support our business model:Herms is a house of creation offering objects for every day that are both durable and functional,objects of assertive style and uncompromising quality.Commended for its responsible approach,which places people at its h
23、eart,Herms remains in tune with the times.We are pleased to have been able to continue to invest in our production capacities,creating jobs,mainly in France,to have maintained our work in training and passing on artisanal skills,and in the research and development of fine materials,and to have conti
24、nued to support our long?standing partners.Herms is upholding and renewing its environmental and social commitments in order to maintain a virtuous circle of growth,for both its employees and its partners,and more broadly for all of its communities and ecosystems.In 2022,the House launched Herms Ple
25、in Air,its complexion line,and received two major watchmaking awards for Arceau,Le temps voyageur.We will also never forget the opening of the new Maison Herms at 706 Madison Avenue in New York and the Kelly en dsordre bag!But 2022 will also and above all remain the year of our first cohort of train
26、ees at the cole Herms des savoir?faire,which awards the French certificate of professional aptitude in leatherworking;the year the Company was named in the list of SBF?120 companies feminising their governing bodies;and the year in which Herms employed nearly 20,000 people.Our successes belong to th
27、e teams who work with enthusiasm and discernment every day to make Herms a house full of life,a house of its time,with a rich history that encourages us to look further.I thank them for their confidence and entrepreneurial spirit.Axel Dumas EXECUTIVE CHAIRMANmile Herms SAS EXECUTIVE CHAIRMAN REPRESE
28、NTEDBYHENRILOUIS BAUER62022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONALHIGHLIGHTS 2022IGHLIGHTS 2022The groups consolidated revenue amounted to 11,602 million in 2022,up 29%at current exchange rates and 23%at constant exchange rates compared to 2021.Recurring operating income amounted to 4,6
29、97 million,i.e.40.5%of sales.Net profit(group share)reached 3,367 million,representing net profitability of 29%.In the fourth quarter 2022,the great sales momentum recorded at the end of September continued,with sales reaching 2,991 million,an increase of 26%at current exchanges rates and 23%at cons
30、tant exchange rates.Axel Dumas,Executive Chairman of Herms,said:“In2022,Herms had an exceptional year thanks notably to the good performance of its international markets.This success reinforces our approach as an artisanal and highly integrated company,mainly in France:a design house that offers obj
31、ects conceived to be functional,with an assertive style and uncompromising quality.The year underpins the relevance of our responsible and sustainable model.”Over the last three years,Herms created 4,300 jobs,including 2,900 in France,and reinforced its operating investments by 1.5 billion,including
32、 c.60%in France.Sales by geographical area at the end of December(at constant exchange rates,unless otherwise indicated)At the end of December,sales growth was remarkable across geographical areas.Sales increased considerably both in group stores(+23%at constant exchange rates)and in wholesale activ
33、ities(+26%),which benefited from the recovery in travel retail.Herms continued to develop its exclusive distribution network,while online sales pursued their upward trend worldwide.Asia excluding Japan(+22%)remained very dynamic throughout the geographical area.Sales performance in Greater China was
34、 sustained.In October,a fourth store opened in the Qiantan district in Shanghai,Mainland China,and Herms inaugurated a store in Pangyo,in South Korea.Several stores reopened after renovation and extension work,such as the Hyundai Coex store in Seoul in December and the Hong Kong international airpor
35、t store in November.Japan(+20%)recorded a steady,sustained increase in sales.In November,the Takashimaya store in Nagoya reopened after renovation and extension in a new location,and the Herms in the Making exhibition showcased the houses knowhow in Kyoto.The Americas(+32%)saw an exceptional year in
36、 2022.After the April opening of a new store in Austin,a new maison was inaugurated at 706 Madison Avenue in New York in September.This store offers clients an unprecedented experience of the creativity of Herms and confirms the houses attachment to the sustainability of objects with a whole floor d
37、edicated to repairs.In Mexico,the store in Guadalajara reopened in October after renovation.Europe excluding France(+18%)recorded sustained growth,thanks to the loyalty of local clients and the resumption of tourist traffic.The Paseo de Gracia store in Barcelona was inaugurated in November,after bei
38、ng renovated and extended.France(+27%)improved strongly,with an acceleration at yearend thanks to high demand from both national and international clients.The store in Strasbourg reopened in November,after renovation and extension,in a new location in the citys historical centre.Sales by mtier at th
39、e end of December(at constant exchange rates,unless otherwise indicated)At the end of December 2022,all the business lines confirmed their high levels of sales,with ReadytoWear and Accessories,Watches and Other Herms business lines posting a remarkable increase,reflecting the huge desirability of th
40、e house.The Leather Goods and Saddlery business line(+16%)performed particularly well,benefitting from very sustained demand and a favourable comparison basis in the 4 quarter.The growth in production capacities continued with five site projects.These new capacities will reinforce the nine centres o
41、f expertise located across the national territory,with their production units,workshops and training centres.In 2023,Herms will open two new leather goods workshops:one in Louviers(Normandie)and the other one in la Sormonne(Ardennes).The projects for new workshops sites in Riom(PuydeDme),LIsledEspag
42、nac(Charente)and Loupes(Gironde)are ongoing.Herms continues to reinforce its local anchoring in France in regions with strong manufacturing knowhow,while also developing employment and training.thH H2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL HIGHLIGHTS 2022 7The ReadytoWear and Accesso
43、ries division(+36%)pursued its strong growth,thanks to the success of the readytowear,fashion accessories and footwear collections.The mens and womens springsummer 2023 collections,mixing casual,sophisticated,bold and light spirits,were respectively presented in June and October.Demand was also stro
44、ng for fashion accessories and footwear,with models that express the abundance of the houses knowhow.The Silk and Textiles business line(+20%)achieved a splendid performance,supported by the growth in production capacities and the success of the collections,especially through the exploration of exce
45、ptional materials and artisanal knowhow,such as handweaving and leather work.Perfume and Beauty business line(+15%)gained from the successful launches of new creations,such as Terre dHerms Eau Givre,the Eau de parfum H24,and the Colognes with Eau de basilic pourpre.Two years after its creation,the H
46、erms Beauty business line continues its strong growth,thanks to the limited editions of Rouge Herms and the launch of Herms Plein Air,the new chapter for complexion.The Watches business line(+46%)confirmed its outstanding performance,displaying singular creativity and unique style nurtured by all th
47、e other mtiers of the house,as well as exceptional watchmaking knowhow.In November 2022,the Arceau Le temps voyageur watch won two awards at the Grand Prix dHorlogerie de Genve(Geneva Watchmaking Grand Prix).The new Herms H08 mens watch confirmed its success,alongside the houses classic models.The O
48、ther Herms business lines(+30%),which include Jewellery and Homeware,continued on their upward trend,highlighting the full creative strength and singularity of the house.The seventh haute bijouterie collection,called Les jeux de lombre,was presented in Paris this summer and in New York this autumn.P
49、articularly robust results Recurring operating income increased by 33%to 4,697 million compared to 3,530 million in 2021.Thanks to the leverage effect generated by the strong sales growth and the exceptional performance of the collections,annual recurring operating profitability reached its highest
50、level ever at 40.5%,up from 39.3%in 2021.Consolidated net profit(group share)amounted to 3,367 million(29%of sales),an increase of 38%from 2,445 million in 2021.Operational investments represented 518 million and adjusted free cash flow reached 3,405 million.After distribution of the ordinary divide
51、nd(837 million)and inclusion of share redemptions(116 million for 104,269 shares outside the liquidity contract),the restated net cash position increased by 2,672 million to 9,742 million compared to 7,070 million as at 31 December 2021.A responsible,sustainable model The group pursued its dynamic r
52、ecruitment,adding some 2,100 new hires to the workforce this year.At the end of December 2022,the group employed 19,700 people,including 12,400 in France.True to its commitment as a responsible employer and in recognition of the employees contribution to the performance and success of the group,Herm
53、s will pay an exceptional bonus of 4,000 in 2023,to all the employees worldwide.Herms strengthened its commitments in the fields of education and knowledge transmission with the launch of the cole des artisans de la vente in April and the rollout of the cole Herms des savoirfaire,opening a new Appre
54、ntice Training Centre at the Ardennes regional hub of expertise.The group has made another fiveyear commitment in an amount of 61 million for the actions of the Fondation dEntreprise Herms.In line with the houses commitments for the fight against climate change,Herms pursued its actions in line with
55、 the emissions reduction targets validated by the Science Based Target initiative(SBTi).Herms aims to reduce emissions by 50.4%on scope 1 and 2 in absolute value and by 58.1%in intensity on scope 3,over the 20182030 period.The house already offsets 100%of scope 1&2 emissions,and most of transportrel
56、ated emissions,thanks to high environmental and societal value programmes.Regarding the protection of biodiversity and resources,the house also introduced a demanding responsible construction standard that integrates sustainability issues across the life cycle of realestate projects.It was certified
57、 in November 2022by an independent third party,as being more demanding that the main global standards.In 2022,Herms again saw an improvement in nonfinancial ratings reflecting the strength of the CSR commitments and the reinforced transparency.MSCI published a greatly improved“AA”rating(versus BBB i
58、n 2020 and then A in 2021).Sustainalytics ranked the house as the best company in Textiles and Clothing(number 1 out of 191 companies)and in the Luxury Goods sector(number 1 out of 102 companies),with the highest“Negligible Risk”classification.Moodys ESG Solutions ranked Herms in 5th position in the
59、 Luxury Goods and Cosmetics sector,thus consolidating the groups position in the CAC40 ESG index.Finally,Herms joined the CDPs Alist,making the house one the worlds 330 topperforming companies in environmental matters.2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL 19PRESENTATION OF THE GRO
60、UP ANDITSRESULTS1.1.1SIX GENERATIONS OF CRAFTSPEOPLE 101.2.2GROUP GOVERNANCE131.3.3STRATEGY 141.4.4SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS17 1.4.1 Summary description of the Group as at 31?december 202217 1.4.2 Integrated production and training sites worldwide18 1.4.3 Integrated productio
61、n and training sites in the French regions 19 1.4.4 Worldwide distribution network 20 1.4.5 Real estate 221.5.5KEY FINANCIAL AND NONFINANCIAL FIGURES AFR23 1.5.1 Revenue by mtier for 2022(2021)23 1.5.2 Revenue by geographical area for 2022(2021)23 1.5.3 Key consolidated financial data 23 1.5.4 Key n
62、onfinancial figures251.6.6REVENUE AND ACTIVITY BY MTIER AFR26 1.6.1 Leather Goods&Saddlery 26 1.6.2 Readytowear and Accessories 28 1.6.3 Silk and Textiles 29 1.6.4 Other Herms sectors 30 1.6.5 Perfume and Beauty 30 1.6.6 Watches31 1.6.7 Other products and brands 32 1.6.8 Group partnerships341.7.7REV
63、ENUE AND ACTIVITY BY GEOGRAPHICAL AREA AFR35 1.7.1 Europe 35 1.7.2 AsiaPacific 36 1.7.3 Americas37 1.7.4 Near and Middle East 38 1.7.5 Digital strategy381.8.8COMMENTS ON THE CONSOLIDATED FINANCIALSTATEMENTS AFR39 1.8.1 Income statement 39 1.8.2 Cash flows and investments 40 1.8.3 Financial position4
64、01.9.9SIGNIFICANT EVENTS SINCE THE ENDOF THE FINANCIAL YEAR AFR401.10.10OUTLOOK AFR411.11.11FONDATION DENTREPRISE 431 11 11 11 11 11 11 11 11 11 11 112022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIX GENERATIONS OF CRAFTSPEOPLE 101.1.1 SIX GENERAT
65、IONS OF CRAFTSPEOPLESIX GENERATIONS OF CRAFTSPEOPLEThe Herms adventure began in 1837 when the harnessmaker Thierry Herms opened a workshop in rue BasseduRempart in Paris.Gradually,generation after generation,the House followed a dual thread on the one hand the painstaking work of the craftspeople in
66、 his workshop,and on the other the active lifestyles of its customers.Carried by an enduring spirit of freedom and creativity,Herms remains highly sensitive and attentive to the changing nature and needs of society.In 1880,Charles-mile Herms,the founders son,moved the workshops to 24,rue du Faubourg
67、 SaintHonor,and set up an adjoining store.At this nowemblematic address,harnesses and saddles were made to measure.The business was already standing out for the excellence of its creations.AN INNOVATIVE HOUSE PASSIONATE ABOUT ITS ERADuring the interwar period,lifestyles changed and the House broke n
68、ew ground under the management of Thierrys grandson,mile Herms.He decisively influenced the family firms destiny when,while travelling in Canada,he discovered the opening and closing system of an automobile hood.In 1922 he obtained exclusive rights to this American“universal fastener”known today as
69、the zip which was used extensively in the Houses luggage and other designs.Under the impetus of mile Herms,the House opened up to other mtiers,while retaining a close connection with the equestrian world,drawing on its mastery of raw materials and its artisanal culture to create its first readytowea
70、r collections.In 1937,the famous silk scarf was born with the Jeu des omnibus et dames blanches design,the first in a long series.Robert Dumas one of mile Herms sonsinlaw,who took the helm of the House in 1951 was a regular visitor to the workshops and designed objects whose details(buckles,fastener
71、s,saddle nails and anchor chains)exuded an elegance that in no way diminished their practicality.Herms objects stand out for their noble materials,their mastery of savoirfaire,and their bold creativity,stimulated by the Houses keen vision of the world.The Silk mtier now invites artists to create uni
72、que designs.A VISIONARY HOUSE From 1978 onwards,Robert Dumas son JeanLouis gradually revolutionised the House,diversifying it and projecting it onto the world map.Herms embraced new mtiers founded on unique savoirfaire,with watchmaking from 1978,along with the integration of new Houses into the Grou
73、p the bootmaker John Lobb in 1975,Puiforcat silversmiths in 1993,and the Cristalleries SaintLouis in 1995.Herms has also created its own shoe collection,designed by Pierre Hardy,since 1990.In 1987,for the Houses 150 anniversary,Parisians were treated to a memorable firework display that launched the
74、 first theme,a tradition that has been perpetuated annually ever since to nourish all forms of creativity with a shared source of inspiration.JeanLouis Dumas also supported the development of Herms around the world with the opening of numerous stores,which all ingeniously combined the identity of 24
75、 Faubourg with local culture.Among these stores,several Maisons Herms were opened on Madison Avenue,New York in 2000,in Ginza,Tokyo in 2001 and in Dosan Park,Seoul in 2006.From 2006,Patrick Thomas decentralised the strategic organisation of the mtiers and reorganised Herms presence across the world
76、into geographical regions.He also ensured the transition to the sixth generation of the family.HERMS TODAYIn 2005,PierreAlexis Dumas,son of JeanLouis Dumas,was appointed Artistic Director.The House expanded its range of savoirfaire,complementing its jewellery product offer with a first haute joaille
77、rie collection in 2010.Creativity,combining innovation and imagination,became ever more abundant within the different mtiers.In 2008,PierreAlexis Dumas also created the Fondation dentreprise Herms,which supports artistic creation,supports artisanal savoirfaire,and promotes the conservation of biodiv
78、ersity.Executive Chairman since 2013,Axel Dumas,nephew of JeanLouis Dumas,strengthened the dynamic growth of the Group with the inauguration of the fifth Maison Herms in Shanghai in 2014.He is accompanying the Groups digital rollout,which led to the redesign of thewebsite in 2018.Axel Dumas has also
79、 taken Herms into the new technological era,in keeping with the expectations of customers,who are becoming more and more connected.The Apple Watch Herms,initiated in 2015,bears witness to a bold and innovative partnership with Apple.In addition,the Group is stepping up the omnichannel dynamic within
80、 its organisation.In 2018,Herms International entered the CAC?40 index followed,in 2021,by the Euro Stoxx 50 index.This demonstrates the Groups remarkable industrial trajectory and stock market performance of an independent,familyrun House of craftspeople,which distributes its objects through a dyna
81、mic network of 300 stores around the world.For over 150 years,Herms has enriched its mtiers without deviating from its strict quality standards.In this regard,the House is committed to continuing to develop its production in France through its 54 integrated production and training sites.Defying the
82、trend for industrial standardisation and globalisation,Herms stands out for its unique business 1 1sThierry Herms receives an award at the Universal Exhibition in Paris for the excellence of his work.sThierry Herms son,Charles-mile Herms,moves the workshops to 24,rue du Faubourg SaintHonor and opens
83、 a store selling bespoke harnesses and saddles.sCreation of the Haut courroies bag.smile Herms,son of Charles-mile Herms,brings the American“universal fastener”,later known as the zip,to France,with exclusive rights for its development.sCreation of a golf jacket,the first readytowear garment.sCreati
84、on of the first piece of jewellery,the Filet de selle bracelet.sCreation of the first silk scarf,Jeu des omnibus et dames blanches.sThe Duc attel,groom lattente design by Alfred de Dreux from the mile Herms collection,representing a horsedrawn carriage,becomes the Maison Herms emblem.sCreation of th
85、e first tie.sRobert Dumas creates the Chane dancre bracelet.sThe creation of the Eau dHerms fragrance marks the founding of a new mtier.sPresentation of the first womens readytowear collection.sLaunch in Germany of the publication Die Welt von Herms.Le Monde dHerms is created two years later in Fran
86、ce.sJeanLouis Dumas,Robert Dumass son,takes the reins of the House.sCreation of the La Montre Herms watchmaking subsidiary in Bienne,Switzerland.sJeanLouis Dumas creates the Birkin bag,named after the singer and actress Jane Birkin.sCreation of the first dinner service,Les Pivoines.sLeather workshop
87、s established in Pantin.sFlotation of Herms International on the stock exchange.sA Maison Herms opens on Madison Avenue in New York.sA Maison Herms opens in Ginza,Tokyo.sLaunch of the first ecommerce website in the United States.sPatrick Thomas becomes Executive Chairman of Maison Herms.sA Maison He
88、rms opens in Dosan Park,Seoul.1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIX GENERATIONS OF CRAFTSPEOPLE 11HERMS IN KEY DATES1837 1867 1880 1900 1922 1925 1927 1937 1945 1949 1951 1956 1967 1973 1978 1984 1987 1992 1993 2000 2001 2006 The wor
89、kshop of craftsman saddler-and harnessmaker Thierry Herms opens in the Grands Boulevards district in Paris.sThe bag created by Robert Dumas in 1930 is named the Kelly in tribute to Grace Kelly.sHerms celebrates its 150th anniversary with a firework display on the PontNeuf bridge in Paris.Ever since,
90、an annual theme has guided inspiration for all of the Houses mtiers.ssCreation of petit h.sCreation of the first haute joaillerie collection,designed by Pierre Hardy.sThe first Saut Herms at the Grand Palais takes place in Paris.sAxel Dumas,nephew of JeanLouis Dumas and sixth generation family membe
91、r,is appointed Executive Chairman.sA Maison Herms opens in Shanghai.sApple and Herms launch the Apple Watch Herms.sHerms International enters the CAC?40.sLaunch of the new h website in Europe and China.sLaunch of the 16th mtier:Beauty.sHerms International enters the Euro Stoxx 50.sOpening of the new
92、 Madison 706 store in New York.sFirst graduates from the cole Herms des SavoirFaire.12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIX GENERATIONS OF CRAFTSPEOPLE 12 2008 2010 2013 2014 2015 2018 2020 2021 2022 Creation of the Fondation dentrepris
93、e Herms under the impetus of the Houses Artistic Director PierreAlexis Dumas,son of JeanLouis D1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS GROUP GOVERNANCE 131.2.2 GROUP GOVERNANCEGROUP GOVERNANCEThe Executive Management ensures the management
94、 of Herms International.The role of Executive Chairman is to manage the Group and act in its general interest,within the scope of the corporate purpose and subject to those powers expressly granted by law or by the Articles of Association to the Supervisory Board,to the Active Partner and to Shareho
95、lders General Meetings.The Executive Chairmens roles are distributed as follows:Axel Dumas is in charge of strategy and operational management,and mile Herms SAS,through its Executive Management Board,is responsible for vision and strategic priority areas.The Executive Chairmen are supported in thei
96、r management of the Group by the Executive Committee.This consists of Executive VicePresidents,each of whom has welldefined areas of responsibility.The role of the Executive Committee is to oversee the Groups strategicand operational management.Its composition reflects the Groups main areas of exper
97、tise.The Operations Committee,which reports to the Executive Management,is made up of the Executive Committee and the Senior Executives of the main mtiers and geographical areas of the Group.Its duties are:Detailed information on the administrative and management bodies is provided in chapter 3“Corp
98、orate governance”,?3.2 and?3.3.sto involve Senior Executives in the Groups major issues and strategic orientations;sto promote communication,sharing and reasonable exchanges amongst its members in their area of responsibility;sto enable the Executive Committee to take certain decisions.The Superviso
99、ry Board exercises ongoing control over the Companys management.For this purpose,ithas the same powers as the Statutory Auditors and receives the same documents as they do,at the same time.Detailed information on the composition and work of the Supervisory Board is provided in chapter3 Corporate gov
100、ernance,3.2 and 3.4.Members of the Executive Committee in the Pantin leather goods workshop in le de France.From left to right:Agns de Villers,Pierre-Alexis Dumas,Olivier Fournier,Sharon MacBeath,Guillaume de Seynes,Axel Dumas,Catherine Fulconis,Florian Craen,Charlotte David,Wilfried Guerrand,ric du
101、 Halgoutric de Seynes Chairman of the Supervisory Board 112022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS STRATEGY 141.3.3 STRATEGYSTRATEGYHerms is an independent company backed by family shareholders.Its strategy is based on three pillars:creation,
102、craftsmanship and an exclusive distribution network.Since 1837,the Group has remained true to its values of freedom,demanding craftsmanship savoirfaire,authenticity and responsible growth.Its integrated craftsmanship business model places quality and sustainability at the centre.CREATION AT THE CORE
103、 OF HERMS STRATEGY Herms creates and manufactures quality objects designed to last,to be passed on from one generation to the next,and to be repaired.This approach requires these issues to be taken into account at every stage,from design to sales.Herms strategy is based on creative freedom.Each year
104、,a theme inspires creators and Artistic Directors.Driven by a history spanning nearly 200 years,during which the House has continued to develop with audacity and ingenuity,Herms paid homage to the theme of lightness in 2022.Never lacking depth,it is a source of creative vitality and nurtures Herms p
105、ositive and resilient mindset.High standards in design and manufacturing encourage the creation of objects that aim to surprise and amaze customers.This creativity,revolving around traditional savoirfaire,is coupled with innovative processes to revisit timeless models and create exceptional pieces,w
106、ithout departing from Herms trademark humour and imaginative flair.The unbridled creativity flourishes in each mtier,as reflected in the numerous scarf designs printed every year.It is then expressed through over 50,000 references,developed around a unique identity and a style blending exceptional q
107、uality,innovation,surprise,elegance and simplicity.In 2022,it was expressed in particular with the fourth chapter of the Beauty story,Herms Plein Air,the new Haute Bijouterie collection,Les Jeux de lombre,and the Home universe,with the new Soleil dHerms tableware.Herms mission is to create unique an
108、d original objects to elegantly satisfy the needs and desires of its customers.Its goal is the pursuit of excellence,in each of its mtiers and services.PERFORMANCE OF THE INTEGRATED CRAFTSMANSHIP MODELHerms leverages its craftsmanship division,the second pillar of its strategy,with nearly 7,000 craf
109、tspeople in France.Backed by a history shaped by six generations,Herms moves with the times,but always respecting tradition,transmission and innovation.The House works alongside those who master,preserve and transmit craftsmanship savoirfaire through their knowledge of materials and their exceptiona
110、l techniques.Each new leather goods workshop is an architectural project in its own right,enabling around 300 jobs to be created and promoting a pleasant working environment on a human scale.Herms boosts its investments every year to expand its production capacity and satisfy its 16 mtiers.The House
111、 ensures that it continually nurtures improvements in the gestures and savoirfaire of its craftspeople.Faithful to its commitments to education and transmission of skills,Herms opened a new apprentice training centre(CFA),which awards a State diploma in leather goods.In 2022,the House also launched
112、the cole des artisans de la vente in Paris.To ensure the durability of this craftsmanship model,the House takes particular care to secure its supplies of materials.Vertical integration,through partnerships and acquisitions,supports the development strategy,with regards to materials as well as techni
113、ques and savoirfaire.More than 55%of production is integrated and 76%is located in France.The vertical integration and sustainable relationships with its partners ensure traceability of its supply chains and reinforce the Houses responsible development strategy with regard to materials,techniques an
114、d savoirfaire.1 11 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS STRATEGY 15THE DYNAMICS OF AN EXCLUSIVE OMNICHANNEL DISTRIBUTION NETWORKHerms own distribution model is based on a network of stores,most of which are operated directly,and innovativ
115、e ecommerce sales sites,making it possible to respond to rapid changes in demand and maintain a privileged relationship with customers.The exclusive distribution network consists primarily of branches run by the Group around the Herms brand.Each of the 300 stores across the world offers a personalis
116、ed selection of objects,to exceed the specific expectations of its customers and offer a distinct purchasing experience in each and every store.Each store enables its customers to explore and discover the most beautiful products,and extends the Houses lustre worldwide.The importance ofecommerce is c
117、ontinuing to grow,alongside the physical network.For the past seven years,Herms has made the strategic choice of ramping up online sales,with the successful rollout of its proprietary platform worldwide,the attraction and retention of new customers,and the development of services.This strategy suppo
118、rts the Houses customers and accelerates the digitisation of uses.This digital flagship is designed like any Herms store with its spirit of fantasy,authenticity and diversity.Its windows,its products,its services and its stories are gathered in a single virtual place.Customers are placed at the core
119、 of the omnichannel network,so as to best meet their expectations and offer them a unique experience.Around the world,Herms stores are veritable“homes for Herms objects”,offering customers a unique experience,complementary to its websiteThis offer is backed by innovative services aimed at welcoming
120、and serving customers in the best possible manner at all times.The House also hosts special occasions,revolving around events in the world,and dynamic and animated set designs.Its unique and responsible communication ensures that it stands out,while nurturing the link with its customers,by giving pr
121、ominence to multilocal expression.Maison Herms,present in 45 countries,has an omnichannel network that is geographically balanced,with measured development and a constant search for prime locations.AN ENTREPRENEURIAL SPIRIT AND INDEPENDENCEThe entrepreneurial spirit has been at the heart of Maison H
122、erms since its creation.It is illustrated by its abundant creativity,a capacity for constant innovation,new mtiers,new production units and store openings.This strategy offers store managers freedom of purchase,to meet the specific needs of their customers.Two podiums are organised every year to pre
123、sent the fallwinter and springsummer collections.These bring together all store and country managers,managers of the different mtiers,as well as designers,to present all collections to the sales teams,who are thus responsible for compiling their own collections and making their store unique,with a s
124、pecial mix of products.This freedom means that in each country the Groups customers are presented with a diversified and unique mix of products resulting from this flurry of creativity,blending emblematic products and the Houses new references,chosen,to best meet local expectations and dedicated to
125、the elegance of its customers.In order to continue this strategy,Herms asserts its independence,underpinned by a strong familybased shareholding structure,committed to retaining most of its production in France and preserving its culture.This independence,and the Houses strict financial management,a
126、llow it to selffinance operational investments,both in production capacities and the network,as well as crossfunctional projects,and to preserve its longterm .12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS STRATEGY 16 RESPONSIBLE GROWTH AND HUMANI
127、ST VALUES The Group is stepping up its efforts in terms of social,societal and environmental performance.The“All artisans of sustainable development”strategic framework serves as a roadmap for all Management Committees and makes it possible to systematise and scale up actions and better measure thei
128、r effects.Herms highly integrated craftsmanship model promotes the creation of skilled jobs in France and social inclusion.The Group has doubled its workforce in 10 years and more than 60%of recruitment takes place in France.Herms is convinced that the diversity of talents is a source of wealth,crea
129、tivity and innovation.These women and men who guarantee the quality of the objects,constitute a heritage for the House.To affirm its commitment to education,the House is developing its training schools for its major craftsmanship mtiers.The profitsharing and incentive agreements,as well as the grant
130、ing of free shares,enable all employees in France to share in the Groups success.True to its commitment as a responsible employer,and recognising the commitment of everyone to the Groups performance and success,Herms paid all Group employees an exceptional bonus in 2022 and 2023,in addition to the s
131、alary increases in France and worldwide.As a company that respects the nature that inspires it,Herms ensures the preservation of its resources and its impact on natural environments and local ecosystems,with a low carbonemission artisanal production model.The Groups environmental policy is based on
132、major commitments related to the reduction of greenhouse gas emissions and their offset,the use of renewable energies,the reduction of industrial water consumption,biodiversity and defossilisation of industrial sites.The House continues to implement its commitments against climate change,in line its
133、 objectives for a climate trajectory below 1.5C,validated by the Science Based Targetsinitiative(SBTi).The House is increasing its practical actions to minimise its footprint on biodiversity,in particular through a comprehensive inventory of its impacts according to the GBS method in partnership wit
134、h WWF and CDC Biodiversit and the undertaking of ad hoc studies in certain sectors.Herms includes responsibility and sustainability in all its actions and creations,such as the“responsible digital”IT approach.In particular,the House has implemented and certified a demanding responsible construction
135、framework,certified by an independent third party,which incorporates sustainability issues throughout the life cycle of real estate projects.Through its engagement with local authorities and communities where its production sites are located,Herms contributes to revitalising regions,and provides wor
136、king conditions that offer proximity and stable employment.Thanks to the Fondation dentreprise Herms,the Company is expanding its philanthropic actions through artistic creation,education and transmission,solidarity and the preservation of biodiversity.The Group is an economic player that is committ
137、ed to its ecosystem and its stakeholders.Herms is committed to support its suppliers in meeting requirements in terms of traceability,certification,carbon trajectory,reduction in water consumption and the use of plastics.Its supply chain briefs are published on the Houses website,as well as its anim
138、al welfare policy.Herms,a family business,has been able to adapt to changes while favouring a longterm approach.The Group,on the strength of its craftsmanship savoirfaire,its exclusive distribution network and its creative heritage,will continue its sustainable and responsible development.1 2022 UNI
139、VERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS 171.4.4 SIMPLIFIESIMPLIFIED ORGANISATIOORGANISATION CHARCHART ANAND GROUGROUP LOCATIONSLOCATIONS1.4.1 SUMMARY DESCRIPTION OF THE GROUP AS AT 31DECEMBER 2022HER
140、MS BRANDOTHER PRODUCTS AND BRANDSHERMS INTERNATIONALRETAILSUBSIDIARIESGermany Argentina Australia Belgium,Netherlands Brazil Canada China,Hong Kong,Tawan,Macau South KoreaDenmark Spain USA France Greece Guam India Italy Japan Malaysia Mexico NorwayPoland Portugal Principality of Monaco Czech Republi
141、c United Kingdom Russia(1)Singapore Sweden Switzerland Thailand TurkeyWHOLESALE PRODUCTION AND DISTRIBUTION OTHER PRODUCTS BESPOKE DESIGN WHOLESALE PRODUCTION AND DISTRIBUTION RETAIL AND WHOLESALE PRODUCTION AND DISTRIBUTION Petit hCrystal Saint-LouisTextiles and furnishing fabricsBootmaker John Lob
142、bSilversmith PuiforcatMTIERS Leather goods and equestrianism Womens Ready-to-wearMens Ready-to-wear Belts Womens silk Shoes Gloves Hats TablewareFurniture and Art of LivingJewellery Mens silk Beauty Watches Herms Horizons Perfume Tanneries and Precious Leathers Metal parts(J3L)Internet of Things(IoT
143、)OTHER BRANDSThe main consolidated companies as at 31 December 2022(distribution subsidiaries and holding companies of the divisions)are listed in note16 of the consolidated financial statements.(1)Stores temporarily closed.1DNTDP12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION
144、 OF THE GROUP AND ITS RESULTS SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS 18 1.4.2 INTEGRATED PRODUCTION AND TRAINING SITES WORLDWIDE The Herms Group operates 68 fully owned production and training sites,including 54 in France.Mtiers Country/French region Number of sites French locality Leathe
145、r Goods&SaddleryFrancerance/AuvergneRhneAlpes8AixlesBains Belley BonsenChablais Fitilieu(EHSF)*Les Abrets PierreBnite Riom(Training workshop)SayatFrancerance/BourgogneFrancheComt3Allenjoie Hricourt SeloncourtFrancerance/Grand Est3BognysurMeuse CharlevilleMezires(EHSF)*TournesCliron(2023)Francerance/
146、ledeFrance5Montereau Pantin CIA Pantin Pyramide Paris Faubourg SaintHonor Paris SaintAntoineFrancerance/Normandy3Louviers(2023)Louviers(EHSF)*ValdeReuilFrancerance/NouvelleAquitaine5Montbron Montbron(EHSF)*SaintVincentdePaul Nontron SaintJunien Tanneries and Precious Leathers Francerance/AuvergneRhn
147、eAlpes2 Annonay LePuyenVelayFrancerance/CentreVal de Loire1 ChabrisFrancerance/ledeFrance1 MontereauFrancerance/Pays de la Loire1 VivoinAustraliaustralia6 United Statesnited States2 Italytaly1 Perfume and BeautyFrancerance/Normandy1 Le VaudreuilTextilesFrancerance/AuvergneRhneAlpes 9 BourgoinJallieu
148、 4 sites Bussires IrignyLe GrandLemps PierreBnite 2 sites F Francerance/NouvelleAquitaine1 NontronFrancerance/Pays de la Loire1 Challes Crystal SaintLouisFrancerance/Grand Est1 SaintLouislsBitche Silversmith PuiforcatFrancerance/ledeFrance1 PantinCIA TablewareFrancerance/NouvelleAquitaine2 Nontron S
149、aintJustleMartel WatchesSwitzerlandwitzerland2Metal parts(J3L)Francerance/BourgogneFrancheComt2 Bonntage ChtillonleDucFrancerance/HautsdeFrance1 RoyeFrancerance/ledeFrance2 ChampignysurMarnePortugalortugal1Bootmaker John LobbFrancerance/ledeFrance1 Paris MogadorUnited Kingdomnited Kingdom1 ShoesItal
150、ytaly1*EHSF:cole Herms des savoirfaireFFFF FF FF FF FF FF FF FA AUI IF FF FF FF FF FF FS SF FF FF FP PF FU UI I1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS 191.4.3 INTEGRATED PRODUCTION AND TRAI
151、NING SITES IN THE FRENCH REGIONS Leather Goods&Saddlery cole Herms des Savoir-Faire(EHSF)or Training workshop Tanneries and Precious Leathers Perfume and Beauty Textiles Cristalleries Saint-Louis Silversmith Puiforcat Tableware Metal parts(J3L)Bootmaker John LobbRoyeBogny-sur-Meuse Tournes-Cliron Ch
152、arleville-Mzires Saint-Louis-ls-BitcheAllenjoie Hricourt Chtillon-le-Duc Pierre-Bnite Bussires Irigny Bourgoin-Jallieu AnnonaySayat Riom Saint-Just-le-Martel Saint-JunienMontbron Nontron Challes Chabris Vivoin Val-de-Reuil Louviers Le Vaudreuil Pantin ParisChampigny-sur-Marne Montereau Le-Puy-en-Vel
153、ay Saint-Vincent-de-Paul Seloncourt BonntageBons-en-ChablaisBelleyAix-les-Bains Fitilieu Les Abrets Le Grand-Lemps12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS 20 1.4.4 WORLDWIDE DISTRIBUTION NETW
154、ORK Herms objects are available worldwide through a network of 300 exclusive stores.Herms watches,perfumes and tableware are also sold through networks of specialised stores.101Europe133 Asia-Pacific9Near and Middle East?BadenBaden?Berlin KaDeWe?Berlin Kudamm?Dsseldorf?Frankfurt?Hamburg?Kampen?Munic
155、h?Stuttgart?Brussels?KnokkeleZoute?Barcelona Paseo de Gracia?Madrid Canalejas?Madrid Ortega y Gasset?Marbella?AixenProvence?Biarritz?Bordeaux?Cannes?Deauville?Lille?Lyon?Marseille?Paris Faubourg SaintHonor?Paris George V?Paris Svres?SaintTropez?Strasbourg?London Bond Street?London Harrods?London Roy
156、al Exchange?London Selfridges?London Sloane Street?Manchester?Athens?Dublin?Bologna?Capri?Florence?Milan?Naples?Padua?Palermo?Porto Cervo?Rome?Turin?Venice?Amsterdam De Bijenkorf?Amsterdam P.C.Hooftstraat?Warsaw?Lisbon?Moscow Gum?Moscow Stoleshnikov?Moscow Vremena Goda?SaintPetersburg?Basel?Crans?Ge
157、neva?Gstaad?Lausanne?Lugano?St Moritz?Zurich?Istanbul Emaar?Istanbul Istinye Park?Istanbul Nisantasi 57 Americas Europe Germany:11 9 branches:2 concessionaires Austria:2 2 concessionaires Belgium:22 branches:Denmark:2 1 branch:1 concessionaire Spain:4 4 branches:France:28 13 branches:15 concessionai
158、res United Kingdom:8 6 branches:2 concessionaires Greece:1 1 branch:Ireland:1 1 branch:Italy:13 11 branches:2 concessionaires Kazakhstan:1 1 concessionaire Luxembourg:1 1 concessionaire Norway:1 1 branch:Netherlands:3 2 branches:1 concessionaire Poland:1 1 branch:Portugal:1 1 branch:Principality of
159、Monaco:1 1 branch:Czech Republic:1 1 branch:Russia?:44 branches:Sweden:1 1 branch:Switzerland:108 branches:2 concessionaires Turkey:4 3 branches:1 concessionaire Copenhagen?Oslo?Monte Carlo?Prague?(1)Stockholm?Stores temporarily closed1.?Brisbane?Gold Coast Pacific Fair?Melbourne Chadstone?Melbourne
160、 Collins Street?Sydney?Beijing China World?Beijing Peninsula?Beijing SKP?Changsha?Chengdu?Chongqing?Dalian?Guangzhou?Hangzhou Hubin?Hangzhou Tower?Harbin?Kunming?Nanjing?Ningbo?Qingdao?Shanghai IFC?Shanghai Maison?Shanghai Plaza 66?Shanghai Qiantan?Shenyang?Shenzhen Bay Mixc?Shenzhen Mixc?Suzhou?Wuh
161、an?XiAn?Rio de Janeiro?Sao Paulo Cidade Jardim?Sao Paulo Iguatemi?Calgary?Montreal?Toronto?Vancouver?Xiamen?Zhengzhou?Busan?Daegu?Seoul Dosan Park?Seoul Galleria?Seoul Hyundai Apkujung?Seoul Hyundai Coex?Seoul Lotte World Tower?Seoul Shilla?Seoul Shinsegae Gangnam?Seoul Shinsegae Main?Pangyo Hyundai
162、?Hong Kong Elements?Hong Kong Harbour City?Hong Kong International Airport?Hong Kong Landmark Princes?Hong Kong Lee Gardens?Hong Kong Pacific Place?Hong Kong Sogo?Mumbai?New Delhi?American Dream?Atlanta?Austin?Aventura?Beverly Hills?Boston?Chicago?Costa Mesa South Coast Plaza?Dallas?Denver?Chiba Sog
163、o?Fukuoka Hakata Hankyu?Fukuoka Iwataya?Hiroshima Sogo?Kobe Daimaru?Kyoto Takashimaya?Nagoya JR Takashimaya?Nagoya Matsuzakaya?Nagoya Mitsukoshi?Okayama Takashimaya?Osaka Hilton?Osaka Shinsaibashi Daimaru?Osaka Takashimaya?Osaka Umeda Hankyu?Sapporo Daimaru?Sendai Fujisaki?Tokyo Ginza?Tokyo Ikebukur
164、o Seibu?Tokyo Marunouchi?Tokyo Nihombashi Mitsukoshi?Tokyo Nihombashi Takashimaya?Tokyo Omotesando?Tokyo Shibuya Tokyu?Tokyo Shinjuku Isetan?Tokyo Shinjuku Takashimaya?Tokyo Tamagawa Takashimaya?Urawa Isetan?Yokohama Sogo?Yokohama Takashimaya?Macao Four Seasons?Macao Galaxy?Greenwich?Hawaii Ala Moan
165、a?Hawaii Waikiki?Houston?Las Vegas Bellagio?Las Vegas Crystals?Las Vegas Wynn?Miami?New York Madison 706?New York Meatpacking?New York Roosevelt Field?New York Wall Street?Orlando?Palm Beach?Palo Alto?Philadelphia King of Prussia?San Diego?Macao One Central?Macao Wynn Palace?Kuala Lumpur Pavilion?Ku
166、ala Lumpur The Gardens?Singapore Changi Airport T1?Singapore Changi Airport T2?Singapore Changi Airport T3?Singapore Liat Tower?Singapore Marina Bay Sands?Singapore Takashimaya?Kaohsiung?Taichung?Tainan?Taipei Bellavita?Taipei Regent?Taipei Sogo Fuxing?Bangkok Central Embassy?Bangkok Icon Siam?Bangk
167、ok Siam Paragon?Phuket Floresta?San Francisco?Seattle?Short Hills?Troy?Washington?Cancn?Guadalajara?Mexico Artz?Mexico Masaryk?Mexico Moliere?Monterrey1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIMPLIFIED ORGANISATION CHART AND GROUP LOCATION
168、S 21AsiaPacificAustralia:6 5 branches:1 concessionaire Mainland China:3127 branches:4 concessionaires South Korea:1911 branches 8 concessionaires Guam:11 branch:Hong Kong:77 branches:India:2 2 branches:Indonesia:2 2 concessionaires Japan:35 29 branches:6 concessionaires Macao:44 branches:Malaysia:32
169、 branches:1 concessionaire Philippines:11 concessionaire Singapore:6 6 branches:Taiwan:9 6 branches:3 concessionaires Thailand:5 4 branches:1 concessionaire Vietnam:2 2 concessionaires Americas Argentina:1 1 branch:Brazil:3 3 branches:Canada:54 branches:1 concessionaire Caribbean:1 1 branch:Chile:1
170、1 concessionaire United States:39 32 branches:7 concessionaires Mexico:6 6 branches:Panama:1 1 concessionaire Near and Middle East Bahrain:1 1 concessionaire United Arab Emirates:4 4 concessionaires Kuwait:1 1 concessionaire Lebanon:11 concessionaire Qatar:2 2 concessionaires Guam?Buenos Aires?Saint
171、Barthlemy?12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS SIMPLIFIED ORGANISATION CHART AND GROUP LOCATIONS 22 1.4.5 REAL ESTATE The surface areas set out below correspond to the gross floor space,measured on plans by an architect,for all of the Gr
172、oups buildings in and around Paris.In Paris,the Group now occupies office space of approximately 31,400?m mainly near its historical registered office of 24,rue du Faubourg SaintHonor and 1921,rue Boissy dAnglas,which it owns.Staff work in office premises in rue de la Villelvque,rue dAnjou and rue d
173、e Penthivre in Paris 8 arrondissement,leased from third parties under commercial leases.In order to meet the expected growth in the Paris workforce,the Group leased two additional buildings on rue dAnjou in 2022,with respective surface areas of 9,900 m and 4,400?m,which will undergo major renovation
174、s prior to being occupied.In Pantin,Herms occupies 79,200 m of manufacturing premises and office space,most of which is owned by the Group,including the Espace JeanLouis Dumas,which opened in 2015,and the Cit des Mtiers,which won the Prix de lquerre dArgent 2014.In 2022,the Group leased threeandahal
175、fstoreys of a new building on the banks of the Ourcq Canal,with a total surface area of 8,700 m.The Group leases an office building located in Pr-SaintGervais to provide a surface of 6,200?m2.In Bobigny,the Group owns its logistics site,with a total surface area of approximately 32,100 m.The Group i
176、s the owner of 65 of the 68 production sites that it operates(?1.4.2).Herms products are sold worldwide through 300 exclusive stores(?1.4.3).A total of 222 stores are operated as branches,most ofwhich have commercial leases,intended primarily to ensure thecontinuity of operations over time.However,t
177、he Group also owns the buildings that house certain stores,including those in Paris,Ginza in Tokyo,Dosan Park in Seoul,Beverly Hills,Sydney and Geneva.In addition,the Group owns a commercial building and offices in London.2th21 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF
178、 THE GROUP AND ITS RESULTS KEY FINANCIAL AND NONFINANCIAL FIGURES 231.5.5 KEY FINANCIAL AND NONFINANCIAL FIGURES KEY FINANCIAL AND NONFINANCIAL FIGURES AFR1.5.1 1.5.2 REVENUE BY MTIER FOR 2022(2021)Ready-to-wear and Accessories 27%(25%)Silk and Textiles 7%(7%)Other Herms sectors12%(11%)Perfume and B
179、eauty 4%(4%)Watches 4%(4%)Other products 3%(3%)Leather Goods&Saddlery 43%(46%)REVENUE BY GEOGRAPHICAL AREA FOR 2022(2021)Asia-Pacific(excl.Japan)48%(47%)Americas 18%(16%)Other 2%(2%)France 9%(9%)Europe(excl.France)13%(15%)Japan 10%(11%)1.5.3 KEY CONSOLIDATED FINANCIAL DATA(in millions of euros)2022
180、2021 2020 2019 2018*restated Revenue 11,602 8,982 6,389 6,883 5,966 Growth at current exchange rates vs.n1 29%41%(7)%15%8%Growth at constant exchange rates vs.n1?23%42%(6)%12%10%Recurring operating income?4,697 3,530 1,981 2,339 2,075 in%of revenue 40.5%39.3%31.0%34.0%34.8%Operating income 4,697 3,5
181、30 2,073 2,339 2,128 in%of revenue 40.5%39.3%32.4%34.0%35.7%Net income attributable to owners of the parent 3,367 2,445 1,385 1,528 1,405 in%of revenue 29.0%27.2%21.7%22.2%23.6%Operating cash flows 4,111 3,060 1,993 2,063 1,863 Operating investments 518 532 448 478 312 Adjusted free cash flows?3,404
182、 2,661 995 1,406 1,447 Equity attributable to owners of the parent 12,440 9,400 7,380 6,568 5,470 Net cash position?9,223 6,695 4,717 4,372 3,465 1234Restated net cash position?9,742 7,070 4,904 4,562 3,615 Headcount(number of people)19,686 17,595 16,600 15,417 14,284*Including the impact of IFRS?16
183、 on leases.In accordance with IAS?8,Herms has applied the new standard on a full retrospective basis,and has restated the financialstatements for the period ended 31?December 2018.(1)Growth at constant exchange rates is calculated by applying,for each currency,the average exchange rates of the previ
184、ous period to the revenue for the period.(2)Recurring operating income is one of the main performance indicators monitored by Group Management.It corresponds to operating income excluding nonrecurringitems having a significant impact that may affect understanding of the Groups economic performance.(
185、3)Adjusted free cash flows are the sum of cash flows related to operating activities,less operating investments and the repayment of lease liabilities recognised inaccordance with IFRS?1?16(aggregates in the consolidated statement of cash flows).(4)Net cash position includes cash and cash equivalent
186、s presented under balance sheet assets,less bank overdrafts which appear under shortterm borrowings andfinancial liabilities on the liabilities side.Net cash position does not include lease liabilities recognised in accordance with IFRS?1?16.(5)The restated net cash position corresponds to net cash
187、plus cash investments that do not meet the IFRS criteria for cash equivalents due in particular to their originalmaturity of more than three months,less borrowings and financial liabilities.51 112022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS KEY FI
188、NANCIAL AND NONFINANCIAL FIGURES 24CHANGE IN CONSOLIDATED REVENUEHANGE IN CONSOLIDATED REVENUEIn millions of eurosCHANGE IN RECURRING OPERATING INCOMECHANGE IN RECURRING OPERATING INCOMEIn millions of eurosCHANGE IN OPERATING INVESTMENTSCHANGE IN OPERATING INVESTMENTSIn millions of eurosCHANGE IN TH
189、E NUMBER OF HERMS EXCLUSIVE STORESCHANGE IN THE NUMBER OF HERMS EXCLUSIVE STORESCHANGE IN NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENTCHANGE IN NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENTIn millions of eurosCHANGE IN ADJUSTED FREE CASH FLOWSCHANGE IN ADJUSTED FREE CASH FLOWSIn millions of eur
190、osC1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS KEY FINANCIAL AND NONFINANCIAL FIGURES 251.5.4 KEY NONFINANCIAL FIGURES Jobs created in 2022RESPONSIBLE EMPLOYERDIVERSITY AND INCLUSIONGENDER EQUALITY2,100 Direct employment rate of people with di
191、sabilities 6.4%Group managers who are women60%Objects are made in France LOCAL ANCHORINGVERTICAL INTEGRATIONLOCAL SUPPLIERSManufactured in its in-house and exclusive workshops 55%76%Purchases come from France(Top 50)67%Carbon trajectory commitment validated by SBTiCLIMATE ENERGY TRANSITIONSUSTAINABI
192、LITY1.5C Green electricity in France100%Repairs in workshops 202,000SBF 120,All categories TRANSPARENCY AWARDSCOMMITTED TO COMMUNITIESPARTNERSHIPS#1 Local actions and partnerships in 2022 400 Purchases made from socially supported organisations 5.2MCHANGE IN GREENHOUSE GAS EMISSIONS In absolute valu
193、es:in k tonnes CO-eq;In intensity:in tonnes CO-eq per M of gross margin578442018622 46.5%in intensity-28.4%in absolute value-2022 610 31641Scope 3Scopes 1&2CHANGE IN GROUP WORKFORCECHANGE IN GROUP WORKFORCE62%62%63%63%2022 2018 2021 2020 201962%excl.FranceFrance+38%14,28415,41716,60017,59519,686CHAN
194、GE IN PRODUCTION WORKFORCECHANGE IN PRODUCTION WORKFORCE2022 2018 2021 2020 20196,5727,0538,0208,4869,469+44%2212022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 261.6.6 REVENUE AND ACTIVITY BY MTIER REVENUE AND ACTIVITY
195、BY MTIER AFR1.6.1 1.6.1.1LEATHER GOODS&SADDLERY Leather Goods&Saddlery,Herms original mtier,encompasses bags for men and women,travel articles,small leather goods and accessories,saddles,bridles,and a full range of equestrian products and clothing.The Leather Goods&Saddlery mtier represents43%of con
196、solidated sales.In 2022,it generated revenue of 4963million.Herms saddlery and leather goods are the result of a very special alchemy.It is based on a constant dialogue between designers and craftspeople,and the use of the finest materials,selected with great care.The craftspeople use traditional sa
197、voirfaire,passed down from generation to generation.The care taken by the craftspeople each day patiently crafting and fashioning the leather gives these unique objects a distinctive additional measure of personality.They are made by more than 4,700 saddlerleather craftspeople,spread across nine cen
198、tres of expertise that bring together production units,workshops and training centres in Paris,Pantin and six regions of France.To meet continued strong demand,Herms is expanding its network of manufacturing sites each year in order to strengthen its production divisions.Five new site projects are t
199、hus underway for the next five years.Following the inauguration in 2021 of two leather goods workshops,in Gironde and SeineetMarne,the Alpes division was strengthened in 2022 with the integration of the Thierry leather goods workshop(HauteSavoie),a longstanding partner.Two new leather goods workshop
200、s are under construction,one in the Eure region,which is scheduled to open in April 2023,and the other in the Ardennes,which will come on stream in May 2023.A new building is also being built at the SaintJunien glove and leather goods workshop(HauteVienne),with a view to doubling its workforce from
201、June 2023.Lastly,work on the new production unit in Riom(PuydeDme)began in September 2022,and is scheduled to open in 2024.Herms is also preparing the start of work on two future production units planned for 2025 in LIsledEspagnac(Charente)and 2026 in Loupes(Gironde).All these establishments are set
202、 up in close collaboration with the various local stakeholders and regional administrative and economic development bodies.In this way,Herms reaffirms its commitment to regions with a strong manufacturing savoirfaire and its will to provide highquality jobs.The House is also continuing to perfect th
203、e skills and savoirfaire of its craftspeople through a range of training and professional qualification programmes.These programmes are delivered within the cole Herms des savoirfaire and through a range of partnerships with training structures in the regions concerned.WOMENS BAGS Once again this ye
204、ar,womens bags unfurl with a focus on the latest habits,to create resolutely modern companions.Like the Herms Geta bag,which can be worn over the shoulder,a supple model with a“sportchic”satchel spirit and a compact format,designed around a clever clasp.The unlined In the Loop bucket bags,beautifull
205、y signed with the Chane dancre link,enrich the family of everyday companions with two formats in just the right proportions.As for the Boucle Sellier bag,this brand new item,with its assertive“rock”feel,is adorned with a chiselled metal part borrowed from the jewellery range.This year celebrates the
206、 return of the Constance 24 bag in a pure and refined version.With its single gusset,harking back to the origins of the model,this slim format is embellished with a pocket on the back and an interior mirror.The evening universe is enriched with dedicated creations and its refined signature is inscri
207、bed on the clasps and materials.Thus,the new Cadenas clutch bag,which introduces a novel handsfree way to carry it,highlights the savoirfaire of its leather casing.Change In millions of euros 2022 Revenue 2022 Mix 2021 Revenue 2021 Mix at current exchange rates at constant exchange rates Leather Goo
208、ds&Saddlery 4,963 43%4,091 46%21%16%Readytowear and Accessories 3,152 27%2,219 25%42%36%Silk and Textiles 842 7%669 7%26%20%Other Herms sectors 1,371 12%1,001 11%37%30%Perfume and Beauty 448 4%385 4%16%15%Watches 519 4%337 4%54%46%Other products 306 3%279 3%10%8%CONSOLIDATED REVENUE 11,602 100%8,982
209、 100%29%23%1 11 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 271.6.1.2 1.6.1.3 1.6.1.4 1.6.1.5 1.6.1.6 The reinterpretation of the great classics is expressed through exceptional versions,designed in an Arts&Crafts s
210、pirit:daring and surprising stories that constantly push the boundaries of creation and savoirfaire.With its doublesided construction and its interplay of perspectives where asymmetry creates a new balance,the“En dsordre”story shakes up the traditional references on the Kelly II Sellier 20,the Birki
211、n 30 and the Bolide 192325.The Kellydole bag,with its anthropomorphic allure,is back with a pixelated spirit,enhanced with a shoulder strap and a satchel that can hold a phone.The ultimate piece,and a triumph of the skill of the silversmith,the Kelly Midas bag emerges from the unprecedented fusion b
212、etween metal and leather,with the matching of Box calfskin and a solid 18carat gold handle.In a playful spirit,the“Colormatic”animation is a play on contrasting colours and gives the bags an additional functionality with a new zipped front pocket as well as a back pocket.Natural materials are also e
213、nriched with,for example,the highlighting of the mane on the Toupet bag,a small bucket bag full of imagination.MENS BAGSThe mens collections have multiplied the offering in response to contemporary uses and revisit the identity codes of the great classics.A new timeless model available in two format
214、s,the HAC dos is designed for mobility with its handsfree carrying mode.It sports the iconic details of the Haut courroies,the Houses very first bag.The emblematic Sac Dpches continues to reinvent itself in a new,smaller,compact size to carry the essentials close to hand.The Herms Allback model,the
215、first mens backpack in canvas and leather,boasts an adventurous spirit thanks to its Toile Bivouac,a new resistant and light technical material,and its multiple functional features.Lastly,the Arts&Crafts odyssey continues with the major essentials of the mens universe:the Haut Courroies bag dresses
216、with a perfecto for a“rock”attitude in an exceptional version with singular details.TRAVEL Introduced at the end of 2021 in France and China,the R.M.S.case is continuing its rollout and is expanding its presence to more than 15 stores worldwide.Resolutely innovative and customisable through the play
217、 of handles and wheels,it offers a wide variety of materials and colours.The printed versions make it even more unique,like the very latest drawing,the mischievous Traffic Jam.ACCESSORIES AND SMALL LEATHER GOODS A land of experimentation,the small leather goods collections are enriched each season t
218、o offer a multiplicity of uses in a joyful and colourful spirit,while continuing to cultivate timelessness.With their compact format and their handsfree carrying mode perfectly adapted to todays uses,objects such as the Constance Slim and the Roulis Slim confirm their success,alongside the small lea
219、ther goods To Go.Very much a contemporary item,the Hermsway line is an allinone that carries the everyday essentials close to hand:phone,cards and lipstick.Its side case,signed with two stripes,echoes the world of Beauty.Small leather goods for men are also enhanced with a new timeless line,H sellie
220、r.Stylish and discreetly signed with a handsewn H,it is available in two classic formats,essential for everyday life:a card holder and a glasses case.Lastly,charms,those playful and colourful accessories,continue their rollout:Wink is a glasses case to take everywhere with you or hang on your bag;Ul
221、ysse Nano is a functional miniature of the emblematic diary cover,and Herms Budy,a very soft small dog,adorns the bag of the urban rider.MATERIALS What better language than that of materials to tell the story of Herms objects?Through their supple hand,their touch,their shades,their shine,their drape
222、,leathers and woven cloths appeal to the senses,reassure,flatter,and sublime them.This dialogue enriches the collections over time,in a constant quest for excellence.Beauty and sensuality are the key words of the collection of materials.Around the base of Heritage leathers(Box,Barnia,Vache naturelle
223、,etc.),in the purest tradition of excellence,some 40 leathers illustrate this unique profusion of softness,sheen,relief and allure.Textile is continuing to explore new identities with the Toile Bivouac,designed for travel and roaming,with its highly resistant ripstop weave.Exceptionally lightweight,
224、it results from a weave that is both sensual and technical,distinguished by a small square with a gentle relief,the result of the skilful interweaving of threads.It combines the sensuality of organic cotton with the strength of recycled polyester,for a firm and supportive hand.EQUESTRIANISM In 2022,
225、the Herms saddle shone at the highest sporting level thanks to the performance of the Houses partner riders.In dressage,the German rider,Jessica von BredowWerndl,world number one in this discipline,won the World Cup final with a Herms Arpge saddle in April.In show jumping,the Belgian Jrme Gury was c
226、rowned viceworld champion at Herning with a Herms Cavale saddle.It is from the collaboration between Jrme Gury,the Herms craftspeople and saddlery experts and from this triple expertise that the Selle Rouge was born,presented at the 12th edition of the Saut Herms at the Grand Palais phmre.Depth of t
227、he seat,a slim tree fork,recessed knee rolls and a small skirt integrated into the flap:the Selle Rouge is at one with the horse and reveals,at first glance,its technical and aesthetic innovations.In addition,the mtier confirmed its commercial momentum,both in saddles and across all its universes wi
228、th,for example,the launch of the Herms Fit line,a wardrobe that accompanies riders throughout the day,or the collection of objects for dogs that continue to surprise customers and offer fun and unique experiences in stores.12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE
229、 GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 28 1.6.2 1.6.2.1 1.6.2.2 1.6.2.3 READYTOWEAR AND ACCESSORIES The Readytowear and Accessories mtier generated revenue of3,152 million in 2022,i.e.27%of consolidated sales.WOMENS READYTOWEAR The summer 2022 collection gives pride of place to boldnes
230、s and lightness.It highlights innovative pieces adapted to the womens daily lives.Wardrobe classics are reinterpreted to match new functionalities:printed silk twinsets,a daytime jacket in denim,cargo trousers in technical cotton,a wrap coat in precious baby cashmere.The leather goods heritage comes
231、 to animate this season:the metal eyelets of the Mangeoire bag adorn the fastenings of outdoor wear,while the drawstring of the Pochon bag inspires the belts of trousers and dresses.For winter,Nadge VanheCybulski,Artistic Director of Womens Readytowear,extends the chapter of lightness and invites to
232、 rediscover the Houses roots.The equestrian world meets the world of dance to give birth to a neoParisian silhouette,refined and romantic.Outdoor wear uses visuals that mix town and nature,such as the Rocabar pattern reworked as a distortion of the horizon,an abstract landscape that can be found,for
233、 example,on cashmere mohair coats.MENS READYTOWEARVronique Nichanian,Artistic Director of the Mens universe,redefines the boundaries of the families that make up the Herms mens collections by playing with hybrids.The springsummer collection,full of freedom and relaxation,evokes a desire for the grea
234、t outdoors.Meticulous innovation dialogues with heritage prints with blurred and perforated patterns transformed by contemporary techniques.Driven by a sense of paradox and the dynamic nature of contrasts,the fallwinter collection creates unexpected contrasts.Obliterated or velvety,supple or crisp,t
235、he materials of these clothingobjects shape a new philosophy of elegance,imbued with a soft eccentricity,amused nonchalance and a certain dandy spirit.Mens Readytowear thus affirms its stylistic signature collection after collection,twinning relaxation with sophistication.FASHION ACCESSORIES 1.6.2.3
236、.1 Fashion jewellery Fashion jewellery continues to explore fantasy,colour,and bold combinations of materials and ways of wearing them in its collections.Leather finds a prominent place there,and is matched with aluminium and its bright range of colours on the Loop line.It appears perforated on brac
237、elets and cuffs inspired by the Collier de chien.Lightweight and twotone,it becomes a link on a long necklace and a bracelet.Colour takes on a graduated appearance on enamel and lacquered wooden bracelets.Not to be forgotten,the clasp of the Kelly bag inspires two new mini or maxi cuffs.The mens uni
238、verse is illuminated by a wide range of colours that bring a touch of wit to braided bracelets,necklaces,brooches or cuff links.1.6.2.3.2 BeltsWomens belts continue their momentum and head further into the realm of fantasy.This year,the buckles are transformed into butterflies,leathers are adorned w
239、ith pockets and the emblematic boucle H appears in four pop colours matched with different leathers.For men,the buckles are adorned with coloured resin,positioned on toneontone knit bands.The metal makes waves and illuminates a very graphic version of the essential boucle H with a thousand reflectio
240、ns.The boucle H also takes off in a design emphasising perspective,associated with a Take Off band whose flame pattern,embroidered on the leather using a tufting technique,perfects the illusion of takeoff.1.6.2.3.3 Hats and gloves On womens hats,details come to the fore,on caps,wide brims,bucket hat
241、s and berets.Embossed Swift calfskin jacrons,Mdor studs in polished metal,printed grosgrain ribbon and interior patches add a creative touch to the collections.In summer,straw comes in many shapes,including crocheted,openwork and fringed panama hats.In winter,felt warms a collection with shades of l
242、ichen blue,red,beige and sage embellished with patterns and materials dear to the House,such as a Point Sellier grosgrain ribbon or a Hunter cowhide band signed with a Hapi metal buckle.Bobs and caps for men sport trompeloeil patterns.A safety pin appears to be embroidered on the“wool check”pattern
243、of the Punk line.A robot head or a profiled horses head are drawn by patches in Swift calfskin.And shirt stripes make their mark on very sporty caps.Head accessories continue to explore the Houses savoirfaire through a wide range of leather headbands,silk hair slides and bun hairpins in horn and lac
244、quered wood.Accessories that are as elegant as they are essential in winter,gloves cultivate a rich palette of colours.With quartz pink,bougainvillier,sherbet lemon,tundra and trellis green in the womens collections,and for men,navy blue,terracotta red,pollen yellow or a mist blue in leather or cash
245、mere gloves.1.6.2.3.4 The Internet of Things The collaboration with Apple continued in 2022 with a new collection inspired by the Houses equestrian universe.The form of a horses head,apples,horseshoes.a playful environment embellishes the dial of the Apple Watch Herms Series 8.Its colours change wit
246、h the mood and the movements of the wrist.In standby mode,it takes on nighttime hues and the horses eye closes,an expression of complicity or an invitation to rest The Gourmette bracelet is reinterpreted with a bold touch:leather and metal chain unite in a model that wraps twice around the wrist,bot
247、h elegant and assertive.The Apple AirTag Herms,an object as aesthetic as it is fun that helps to locate keys in the blink of an eye,plays the card of fantasy with dedicated pictograms.The Swift calfskin keyring case is printed with clever signage:house,bicycle,boat,etc.that conceals a trompeloeil ke
248、y.1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 291.6.3 1.6.3.1 1.6.3.2 To travel with peace of mind,Herms offers a leathercovered travel battery for charging your smartphone and earphones,either by simple contact u
249、sing Qi wireless technology,or wired for fast charging.It is available in two sizes,mini or maxi,for a quick topup or a full charge,in a range of luminous colours.Made in France and designed to be repairable,VoltH is part of a responsible approach to developing collections of objects.1.6.2.3.5 Shoes
250、 For 2022,Pierre Hardy,Creative Director of Womens and Mens shoes,draws on the very essence of the House and all the creative references that characterise it:its materials,its colours,and its designs.He brings them together to tell stories,create surprise and express the wealth of the mtiers savoirf
251、aire in an unprecedented way.The models are essential,elegant and light.Innovative and ultralight materials are the hallmark of the new springsummer products:natural cork platforms and coloured expanded soles for the womens collection,new Rallye 24 soles and transparent inserts on the mens hybrid mo
252、ccasins.Graphic sets of mini and maxi perforations illustrate exceptional leather work.The story being written around clogs is continuing with new models.Vibrant colours pep up both new products and feminine essentials in a spirit that combines simplicity and fantasy,while mens models are dressed in
253、 different fabrics,H,denims,technical or cotton in monochromatic or more creative versions.Fallwinter encourages women to be bold:a new transparent jewel heel,cowboy boots embroidered with the Brides de Gala design or shoes with a running line offer a modern and graphic femininity.Ultra sophisticati
254、on comes with a new rhinestone finish.For men,the Houses heritage and bootmaking savoirfaire are in the spotlight with Goodyearsewn soles and equestrianinspired details or the Exlibris that enliven the shoes.Pierre Hardy also imagines mixed allterrain and ontrend models,with rugged urban or outdoor
255、soles and comforting materials for cold days,such as quilted fabric,parachute fabric and shearling.An endless choice of materials,colours and volumes make their mark on sports models,for assertive and contemporary styles.SILK AND TEXTILES The Silk and Textiles mtier generated revenue of 842 million
256、in 2022 and represented 7%of the Groups consolidated sales.WOMENS SILK In the womens silk collections,the twill carr scarf is more than ever the heart of our creativity and dynamism.In its emblematic format,the carr 90 offers an abundant range of designs,from the great classicsto strong new stories
257、inspired by this years theme of lightness.Thus,Herms Story mischievously portrays an acrobatic rider striking a pose,Robe lgre shows a horse with a multicoloured dress made of flowers,and Sur mon nuage invites you into a dream and an imaginary journey around a seashelllike cloud.In its wake,the carr
258、 70 confirms the success of its easytowear format.In particular,it boasts a design inspired by musical comedies,Hommage Gene Kelly,with graphic lines and bright colours.Another musthave in the collections,the family of cashmere products is expanding.Shawls and triangular scarves play with complement
259、ary formats,original drawings and colours designed for everyday use.A newcomer made its appearance in springsummer,a cashmere that is as light as a veil,in which delicate drawings put the spotlight on the material.For fallwinter,mufflers are sometimes equestrian,sometimes eccentric.The collections a
260、re now punctuated by bursts of fun,themed events,at the start of or during the season.Stories that can be written through a carr scarf,a twilly or a ring to create surprise by combining fantasy and sophistication.MENS SILK The mens carr scarf enjoyed strong momentum this year,driven by a renewed cre
261、ative drive.This emblematic format expresses its unique character through witty designs.As part of the fallwinter collection,Les As du volant is a playful story of a frenzied car race,while Jeu dadresse explores a new graphic universe by playing with the letters of 24,rue du Faubourg SaintHonor.Alon
262、gside this,the cashmere and silk rectangle scarf is fast becoming the new accessory for mens silk.As recognisable as a carr scarf by its design,it is worn in an intuitive fashion,like a muffler.Among the new patterns in this collection,Garden of harnesses represents different models of harnesses and
263、 stirrups kept in the mile Herms Collection.The family of mufflers is expanding and is now a category in its own right.Plain writings and Jacquard designs are emerging as new musthaves,for example on a small Scottish cashmere muffler with a Brides de gala en dsordre drawing.The collections are diver
264、sifying thanks to the discovery of exceptional materials such as vicuna and qiviuk,and craftsmanship savoirfaire such as hand weaving.Leather work is also showcased on embroidered and patched mufflers.The range of ties reaffirms its status as a reference in terms of elegance and allure,and is enrich
265、ed with models dedicated to ceremonies.Not to mention the more surprising proposals,such as the three ties that reveal a pattern from the carr scarves on their lining:the skeleton horse Cest la fte,the Cheval Punk or the spiderrobot from Flamboyant web.12022 UNIVERSAL REGISTRATION DOCUMENT HERMS INT
266、ERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 30 1.6.4 1.6.4.1 1.6.4.2 1.6.5 1.6.5.1OTHER HERMS SECTORS Other Herms sectors include Jewellery and Herms Art of Living and Tableware.In 2022,they generated revenue of 1,371 million,contributing12%to Groups revenue.JE
267、WELLERY In 2022,the Jewellery mtier highlighted the Houses uniqueness and creative strength.Supported by the Herms Joaillerie cavalire communication campaign,the mtier continues to create bold jewellery around its various stories and savoirfaire,expressing its creative wealth and affirming its posit
268、ioning as a jeweller of design.Pierre Hardy,Creative Director of Jewellery,has taken this into the realm of wonders with the seventh haute joaillerie collection,Les Jeux de lombre.Describing the movement of shadows and their relationship with light,this collection succeeds in capturing the intangibl
269、e and showcases the beauty of the stones.The seven themes that make up Les Jeux de lombre were revealed to the press at La Gat Lyrique in Paris in early July,during a performance combining choirs,whispers and coloured chiaroscuro,echoing the subtle play of shadows on these objects.The collection was
270、 then presented in the Faubourg SaintHonor store in Paris and then in the new Madison store in New York in November.For its part,the Kellymorphose exhibition,which showcases the multiple metamorphoses of the Kelly bag into a piece of jewellery,continued its journey around the world,visiting several
271、countries.HERMS ART OF LIVING AND TABLEWARE The strong growth initiated by Herms Art of living and Tableware in 2020 continued in 2022.The acceleration was seen by all product families.It is the result of both the implementation of new creations and the actions carried out to increase production cap
272、acities,such as the opening of a new porcelain decoration workshop in the Limoges region.The year was marked by two major events:firstly,the January launch of a major new porcelain tableware service,Soleil dHerms.Available for sale in early summer,it positioned itself at the top of the Herms table f
273、rom its first few months.The second highlight was the Milan Design Week in June,where the presentation of new products attracted a record number of visitors.Built around this years theme of lightness,the setting enabled visitors to explore a wide variety of textile collections,as well as to discover
274、 initiatives related to wickerwork,handpainted leather or paper.So many proposals which once again won the votes of the press and buyers present.PERFUME AND BEAUTY Perfume and Beauty generated revenue of448million in 2022,i.e.4%of consolidated sales.PERFUME Activity in 2022 was supported by the laun
275、ch of several new fragrance products,two in the first half of the year and three in the second,and by the promotion of the collections,with particular attention paid to both external distribution and the Herms exclusive store channel.In the first quarter,the Eau des Merveilles and Twilly dHerms wome
276、ns lines welcomed perfume mists for the hair,while the Hermessence perfume essences were given a new bottle.In March,the ecodesigned H24 fragrance for men,with a lively,sensual and distinctive signature,celebrated its first anniversary with the arrival of a new refillable travel spray.In May,the Ter
277、re dHerms mens line was enriched with a new creation,Terre dHerms Eau Givre,signed by Christine Nagel,Herms perfumer.Citron,juniper berry and Timut pepper create a striking icy breeze,dialoguing with the generous power of mineral and woody notes so recognisable as Terre.The heat under ice or the int
278、ense freshness of original earth,a regenerating source of energy for man.An ambitious creation,Terre dHerms Eau Givre set out to win over an audience that was instantly seduced,backed by a dedicated communication campaign,including a new“Territory”film.The second half of the year began with a summer
279、y glow:the Colognes rainbow revealed an unprecedented shade of green,Eau de basilic pourpre.A tribute to a simple plant and the generous pleasure it provides,Eau de basilic pourpre displays the characteristic signature of Cologne light,fresh and airy supported by a Calabrian bergamot and a cheeky ge
280、ranium,juxtaposed with the warmer notes of patchouli and spices to give the composition depth and complexity.In pursuit of its plantbased dream,a daring blend between nature and technology,H24 has acquired an unprecedented amplitude and intensity with the Eau de parfum,which cheekily shakes up the p
281、roportions of the ingredients of the H24 eau de toilette,sage,rosewood,narcissus and sclarene.Foams natural and hightech make their appearance and exude an assumed,rich and comfortable naturalness.This launch also saw the H24 offering extended to an actual skincare line for men.Designed as a concent
282、ration of green energy with hydrating and antipollution properties,it accompanies men in their daily lives,combining simplicity,naturalness and urban mobility.In October,the Hermessence collection welcomed a new creation,Violette Volynka,the unexpected encounter between two materials recognised as m
283、arkers of the elegance of fine perfumery:violets and leather.Defying their striking opposition,Christine Nagel has associated the discreet flower with a powerful leather,part of the Houses heritage,with its animal scent and singular grain,releasing audacity and character on touch.1 2022 UNIVERSAL RE
284、GISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 311.6.5.2 1.6.6 It was also in October that Herms first perfume for children,Cabriole,was born.An alcoholfree scented water that Christine Nagel wanted to subtly evoke the apricot scent of
285、 a childs cheek.A joyful and surprising creation,where the tenderness of osmanthus and the freshness of honeysuckle join the natural elegance of sandalwood.At the end of the year,the Ftes en Herms boxes featured the design of the Cheval de fte scarf to celebrate renewed conviviality.BEAUTY During it
286、s third year of activity,the Herms Beauty mtier confirmed its rapid growth through exclusive distribution.2022 was marked by two limited editions of Rouge Herms,the appearance of Hermsistible perfumed lip oils,and the launch of Herms Plein Air,a new chapter dedicated to complexion.Fashion accessorie
287、s in their own right and dancing to the same seasonal rhythm,the Rouge Herms limited editions have renewed interest in this essential makeup item.For springsummer,three new refillable beauty objects,inspired by the ephemeral sensations of a garden of colour,water and light,projected their impression
288、ist pop colour palette,a mix of vivid expanses of pink,green and orange and soft and meditative blue ranges.For fallwinter,the Rouge Herms limited edition combined lipstick and nail enamel for the first time,around a flamboyant palette inspired by the glow of molten metal.A fiery trio of unique reds
289、 with a dazzling matte finish rubbed shoulders with a duo of nail enamel in deep shades of grey and purple with a metallic finish.In addition to these limited editions,a second structuring line for the mtier was born with Herms Plein Air.This new chapter dedicated to the complexion offers a ritual t
290、hat enhances the natural beauty of the skin.An unequivocal expression of beauty driven by wellbeing and movement,and a powerful connection with nature,Herms Plein Air has found its place in the history of a House that has been equipping women to enjoy outdoor life since the 1920s.Presented by Gregor
291、is Pyrpylis,the new Creative Director of Beauty,Herms Plein Air embodies a singular approach that does not seek to hide the skin,but frees it,offering a breath of fresh air.A hybrid proposal between skincare and makeup,which embellishes the skin with freshness and lightness.The collection includes a
292、 natural perfecting complexion balm,available in 12 shades to transparently enhance all skin tones,from the lightest to the darkest.Two highlighting powders,one with a mattifying effect,the other for a radiant shine,a powder brush and silky mattifying blotting papers,complete the ritual.This approac
293、h won over the press and influencers around the world and was enthusiastically welcomed by customers,particularly in Asia.In the spring,the Hermsistible collection gave the mtier a playful boost.Composed of six lip care oils,infused with different scents,colours and flavours,this proposal immediatel
294、y won hearts.Its irresistible sensory associations celebrate the Houses characteristic“taste for colour”and bring naturalness and joy to the beauty of lips.Activity was supported throughout the year by a comprehensive communication plan and major media campaigns,with equal weight given to the two st
295、ructuring lines,Rouge and Plein Air.Lastly,an exceptional gift enlivened the yearend festivities:the reedition of the Poudre dorfvre,a compact embossed with the Herms Exlibris and adding a sparkling finishing touch.WATCHESWith consolidated revenue of519million in 2022,the Watches division represents
296、4%of the Groups sales.Established in Biel in 1978,Herms has solidified its reputation as a watchmaker in less than 50 years,employing more than 300 people in its manufacturing division in Switzerland.Herms now manufactures almost all of its watches,movements and components inhouse.Its resolutely Par
297、isian creativity affirms its unique style,which is invigorated by the other mtiers in the House.Its savoirfaire increasingly gives Herms a singular voice in the watch industry.Following spectacular growth in 2021,sales continued to grow at a high pace in 2022,thanks to the dynamism of all markets.Th
298、e distribution of watches is mainly carried out by Herms stores,with sales through external multibrand stores now reduced to a very select number of retailers.In April,Herms exhibited its new products at the Watches and Wonders trade show in Geneva.The mtier teams were able to welcome media and cust
299、omers from all over the world.Live broadcasts presented the latest products to journalists who were unable to travel on account of the health situation.Once again,Herms powerfully expressed the originality of its vision within the restricted circle of haute horlogerie players,by affirming its territ
300、ory of expression:a unique relationship with time,full of fantasy and emotion,a time with which we play without wanting to control it.This message was supported by the Le Temps,un objet Herms press,billboard and digital advertising campaign.The main launch of 2022 was unveiled in Geneva:Herms presen
301、ted its new complication,Le temps voyageur,in the Arceau line.This innovative object was awarded two Grands Prix de lHorlogerie de Genve in November 2022,in the“Ladies complication watch prize”and“Mens complication watch prize”categories.The ambition of Le temps voyageur is to renew a classic watchm
302、aking complication,the GMT(or second time zone),and take it to a new dimension.Thus,this watch hides its GMT function under an aesthetic inspired by universal hours,and invites its owner on a dual journey.First of all,a very concrete journey,with an extremely practical and functional complication,wh
303、ich accompanies the wearer from one country to another;but also a more dreamlike escape to the heart of a fantasy world,the Planisphre dun monde questre (mapping of an equestrian world)that adorns the dial,with its continents,rivers and mountains inspired by the world of horses.To make the journey e
304、ven more fun,Herms has innovated technically by proposing an original mechanism:the hours and minutes in local time are housed in a small satellite,which gravitates around the dial on demand.24 place names indicate the 24 time zones,some of which are unusual and surprising.All the traveller needs to
305、 do is position the satellite on his place of arrival and the local time automatically adapts,the original time remaining frozen in a window above the dial.As playful as it is useful,this complication is available in three versions and two diameters,in steel(38 mm)and titaniumplatinum(41 mm).12022 U
306、NIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATION OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 32 1.6.7 1.6.7.1 1.6.7.21.6.7.3New versions of two other Arceau complications confirmed their success in 2022.The Arceau Lheure de la Lune watch offers a quirky take on the clas
307、sic moonphase complication,by reversing the usual relationship between the functions of the watch and the complication.As for the Arceau Tourbillon Rptition minutes,it shows the movement through the dial cut into the shape of a horses head,a motif that can also be found on the back of the bridges an
308、d plates.2022 also confirmed the success of the new Herms H08 mens line,launched in 2021.This sporty,comfortable and light watch is rooted in the world of Vronique Nichanian and is a companion object for any time of day.Its unique,resolutely contemporary and immediately recognisable design combines
309、technological materials,surface effects and atypical shapes.In addition to its three original versions,a titanium edition tinted with navy blue DLC,with a black ceramic bezel,was added in 2022.The womens lines have also been expanded,in particular the Faubourg line and its Polka version,a true watch
310、making jewel that has aroused spectacular enthusiasm,but also the Nantucket line enriched with a metal bracelet in steel or rose gold.Sales also benefited from the strong results worldwide of the indispensable Cape Cod and Heure H lines,whose constant renewal attracts a growing number of enthusiasts
311、:they have been able to discover precious,technically innovative and occasionally bejewelled expressions of these emblematic and imaginative lines.Finally,the collection of exceptional pieces developed by Herms confirmed its major strong appeal once again this year,with watches showcasing the Houses
312、 artistic mtiers and watchmaking and jewellery savoirfaire(i.e.Faubourg,Klikti,Arceau,Mdor,etc.).OTHER PRODUCTS AND BRANDSIn 2022,Other products generated revenue of306million,contributing3%to Groups revenue.CRYSTAL SAINTLOUIS In 2022,SaintLouis revealed a more contemporary facet of its creativity w
313、ith the new Cadence collection,composed of 29 pieces in clear crystal,punctuated by the juxtaposition of horizontal and vertical lines.This geometry evokes the gestures of the craftspeople in the production unit,which are repeated and passed on from generation to generation:the choreographed ballet
314、between pickers,blowers and glassmaking managers in the hotpart workshop,and the variations in cutting patterns carried out in the coldpart workshop.Each object thus composes its own tempo.Creation is also expressed in tableware,barware and decorative pieces as well as a wide range of lighting desig
315、ned for everyday use.The lines that punctuate the material in a regular and systematic manner suggest the function and use of each object:the horizontal lines highlight the liquids in the containers,the vertical lines soar upwards like the lighting supports.Unveiled in preview in March at the Kro ga
316、llery in Paris,the collection was presented to the public at the Milan Design Week,in the new SaintLouis showroom on via Pisoni,as well as in the cloister of the Santa Maria del Carmine church in the Brera district.In the lighting segment,the production units main area of development,SaintLouis drew
317、 on its vast catalogue(15 collections and more than 2,500 references),to organise an exhibition dedicated to its savoirfaire in September,during Paris Design Week 2022.The radiant light and sound production launched many visitors into a unique immersive experience through five luminokinetic installa
318、tions.A commitment taken seriously by SaintLouis,which,for the last 10 years,has given priority to the development of contemporary lighting,diversifying its types of lights to meet all uses.Lastly,in this United Nations“International Year of Glass”,SaintLouis was chosen by La Poste to illustrate its
319、 special Cur stamp,of which several million copies are printed for St.Valentines Day.The stamp represents a assembled chandelier that takes off and illuminates interiors around the world.SILVERSMITH PUIFORCATThroughout 2022,Puiforcats teams devoted themselves to the implementation of various project
320、s intended to revive the brands momentum.The renovation of the Avenue Matignon store began in the summer,with reopening scheduled for the spring of 2023.During the construction period,the sales team moved to a temporary space on rue Boissy dAnglas.The revamp of the collections catalogue and the vari
321、ous communication tools,in particular Puiforcats graphic identity,was also carried out.In the workshop,the craftspeople worked on developing new collections that will punctuate the calendar from next year,solid silver creations imagined with the help of partners from the world of contemporary art.Th
322、e production of“heritage”pieces also remained strong thanks to the organisation of fine silversmith presentations abroad.The teams from various Herms stores,in Taiwan,Australia and the United States,hosted the Puiforcat trunk show a travelling exhibition concept organised over several days and invit
323、ed their customers to discover the savoirfaire and collections of the house of silversmith.BOOTMAKER JOHN LOBB In 2022,John Lobb continued its strategy of evolving and modernising its store network.Two new locations thus opened,in the Mall of Emirates in Dubai and in the KaDeWe department store in B
324、erlin.At the same time,several stores were renovated:in Japan,the Matzuzakaya store in Nagoya and the Iwataya store in Fukuoka,the Plaza 66 store in Shanghai,the Boissy dAnglas store in Paris,and the Jermyn Street store in London.1 2022 UNIVERSAL REGISTRATION DOCUMENT HERMS INTERNATIONAL PRESENTATIO
325、N OF THE GROUP AND ITS RESULTS REVENUE AND ACTIVITY BY MTIER 331.6.7.4 1.6.7.5 1.6.7.6 The 2022 advertising campaigns strengthened the Houses values of quality and excellence and conveyed its philosophy through the“Thats Lobb”slogan,while distilling the dose of cheek and daring so dear to English hu
326、mour.The other highlights of the year are linked to the arrival of a new creative team,whose first collection,drawing on the savoirfaire of the tailormade workshops of rue de Mogador,in Paris,and Northampton,will be marketed in stores and at partners from springsummer 2023.TEXTILES Holding Textile H
327、erms regroups and coordinates under one structure all savoirfaire relating to textile production:from creation to sewing,encompassing weaving,engraving,printing,dyeing and finishing.It serves the Groups different mtiers,as well as external markets such as clothing and interior decoration,in particul
328、ar with the brands Bucol,Mtaphores,Verel de Belval and Le Crin.2022 was marked by the dynamism of internal orders from all Herms divisions,in particular thanks to the development of innovative products such as the doublesided scarf.To support the Groups growth,Holding Textile Herms is enabling a sig
329、nificant increase in its production capacities,combined with strict control of the quality of its products.To assist with this,the real estate project on the PierreBnite(Rhne)site continued:following the delivery of the logistics and industrial buildings in 2020 and 2021,the finalisation of the offi
330、ces was completed in 2022 in order to provide employees with open,innovative and collaborative workspaces.TANNERIES AND PRECIOUS LEATHERS The Tanneries division handles the purchase,tanning,finishing and sale of precious leathers destined for the Herms Group and for highquality brands and creations,
331、mainly in the fashion,leather goods and watches industries.Its activities cover calfskin and goatskin as well as exotic leathers.The division also manages the integrated crocodile farming operations.Its objective is to assert its position of excellence in the precious leather market by securing its
332、supplies,optimising its production capacities and developing its savoirfaire,as well as respecting the environment and animal welfare.It constantly works and invests in this direction,focusing on innovation,creativity and the exemplary nature of its supply chains.Once again this year,the mobilisatio
333、n of teams and the synergies established between the divisions tanneries and the Houses main mtiers made it possible to serve a sharp increase in needs.Activity in 2022 thus exceeded the 2019 record level.The exotic leathers activity was able to respond to the spectacular dynamism of the Readytowear and Accessories mtier.The division has also developed new exceptional finishes to support the value