Herm S CEO Annual General Meeting

Recently, CEO Axel Dumas reiterated the price policy of the group at Herm annual s annual meeting of Hermes, and answered a series of questions of concern in the question session.

Since the global exchange rate volatility has caused the huge difference between luxury goods in Asia and Europe, a number of luxury goods groups have started the price adjustment policy. The decision of Herm s group is to raise prices sparingly.

As report goes, Axel Dumas Reiterates that the group will adopt an annual foreign exchange hedging policy to mitigate the impact of the euro weakness on sales revenue. In addition, he also said: Herm s firmly believes that prices should reflect production costs, especially in France, such as Birkin bags.

"This is why we do not adopt a price adjustment policy in France to raise prices in some other places," he said. "This will artificially increase spending on French customers."

"In the face of the weakness of the euro, we may also make some price adjustments, but these adjustments must be consistent with our price policy. We have increased the price by nearly 4% in Switzerland this year, and the group has been considering expanding the price range in 2016. "

Not long ago, the Japanese Senate formally decided to raise the consumption tax rate to 10% from April 2017. In response, Dumas said the group was able to deal with Japan's second round of consumption tax. "Obviously we will adjust the price accordingly," he said. It is hoped that the good momentum will continue in the wake of the first increase in consumption tax (April 2014). At the end of April, Herm released s's first quarter results in 2015: Japan's largest market for Herm s was the first quarter of the year to continue its sales success.

　　 Dumas The development of Brazil market is hindered by high import tariffs, and its business continues to develop difficultly. "Nevertheless, we still plan to add new stores in Brazil in the next one to two years to promote brand awareness and attract Brazil customers, and it will be hard to say whether they will buy at home."

This year, Herm s is in. St Paul The FestivaldesM tiers displays a superb craftsmanship and celebrates the renovation and reopening of the flagship store in St Paul.

In addition, the group plans to add a new store in Miami in November this year to better meet the needs of local customers and Latin American customers.

Dumas revealed that Herm s hired Henri Baggio as director of security in September last year to strengthen protection measures for valuable commodities. In April of this year, Henri Baggio successfully assisted the police in retrieving 500 Herm s packages stolen in a packaging and logistics plant in northwestern Paris.

Herm s Ericde Seynes, chairman of the board of supervisors, said that the number of shareholders attending this year's shareholders' meeting was 2 times that of last year.

The reason goes back to the end of last year. In December 2014, LVMH group of Herm s LVMH redistributed its Herm s s stock to its shareholders in the past few years. The completion of the equity allocation marks the end of the war between Herm s and LVMH shares. At the end of December, the number of shareholders of Herm s increased sharply from 23 thousand to 107 thousand a year ago.

According to Herm s2014 annual report, in April 2nd this year, LVMH Group Chairman and CEO Bernard Arnault (holding Herm s s shares fell to 8.5%. Bernard Arnault has always insisted that he did not intend to initiate hostile takeover of Herm s.

Salary and benefits received overwhelming support from shareholders in Dumas2014. The total salary reached 2 million 100 thousand euros (about 14 million 530 thousand yuan).