Hermès Press Release Covid-19

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  1. On 30 March, Hermès issued a press release regarding the COVID-19 crisis. In summary:
    • Hermès Group will maintain the basic salary of its 15,500 employees worldwide
    • Hermès will donate €20 million to the public hospitals in the Paris region
    • Donation of over 30 tonnes of hand sanitizer produced by its fragrance manufacturing site in Vaudreuil and more than 31,000 masks by the company’s various entities
    • Amend the proposed ordinary dividend to be submitted to the Annual Shareholders’ Meeting of 24 April 2020, reducing the amount from €5.00 to €4.55 per share, which is the same as the amount paid in 2019
    • The Executive Chairmen have decided to forego the increases in their fixed pay for 2020
    For the full release, please click here.
     
  2. Thanks for sharing! It's always heartening to hear of companies doing the right thing, for their wider community, employees and everyone they are 'responsible for'.

    It's great to hear that through all this hardship, at least H is a company that stands by its employees, and of course, naturally has the financial reserves to do so. They're at least in a much better position morally than all these football clubs and other businesses who are laying off the little people and keep paying the talent full whack!
     
    MooMooVT, kemilia, keodi and 8 others like this.
  3. Thanks for sharing. This is so charitable, community-oriented and caring of Hermès. :hbeat:
    It’s a tough time for the world right now. I take comfort in purchasing from a company with these kind of values.
    Very well-done.
     
  4. I love Hermes even more now. It's so wonderful to see a company using its resources for good! Thanks for sharing @Phiona88!
     
    keodi, haute okole, Brimson and 4 others like this.
  5. Wonderful news for everyone and my stock is maintaining❤️
     
    keodi, jessicaeyen62 and haute okole like this.
  6. Bravo to Hermes..
    It makes one feel good to see a company of this caliber step up to the plate & take care of their employees
    as well as those that are on the front lines....
    Thanks for sharing!
     
  7. I hope that other companies (and individuals for that matter) will follow suit.

    You can really see people’s true nature from the way they react in a crisis. The UK government has put measures in place, supposedly to support vulnerable businesses and workers. We shall see... D6DE72A3-FC64-4378-BE45-7F400ED8E136.jpeg
     
    keodi, Cygne18, Shan9jtsy and 3 others like this.
  8. The other day when I saw Chanel was making masks and gowns for hospital workers I found myself falling back in love with the brand. Hermes just reaffirmed one of the reasons I love this brand so much. Behind all the money is still a company with a heart. :heart:
     
    keodi, haute okole, Pinkie* and 4 others like this.
  9. whole heartedly agree. I love Hermes !
     
    haute okole and Chicagobaggirl like this.
  10. Thank you for sharing this.
     
  11. This is why Hermès will always have my interest. A €20m donation just destroys Versace’s €200k as well.
     
    keodi likes this.
  12. Hermes have been savvy in keeping the business solvent enough to weather serious storms like this - many other high end retailers have not been so fortunate in their philosophy. I applaud their position on continuing to pay their artisans but I think the share dividend could have been shaved a bit more - cash will be king in business once the crisis has passed and many luxury retailers will suffer whilst people recover from the economic shock of Covid-19 and re-evaluate what is important to them. It's certainly put my appetite for another handbag on the back burner for a while! Supplies of goods in the autumn ( assuming a 6 month period of lockdown, flattening of the curve and epidemic wind down ) will be very thin and Hermes may have to contemplate - for the first time ever - something of a fire sale to move the Spring Summer stock. We certainly do live in interesting times - hope everyone here gets to the other side safely.
     
    undecided45, keodi, MAGJES and 2 others like this.
  13. So proud of this company.
     
    honey likes this.
  14. Reading about how these luxury companies contributing in crises makes me happy to have spent my money buying from them. I will continue to support them as long as I am able too.
     
    ladysarah likes this.
  15. :yes:
     
    keodi likes this.