Hermes' stock valuation has re-rated to approximately 33 to 34 times its next 12 months' earnings, down from its five-year average of 48 times.

Hermes revealed that over 50% of its sales in France are from tourists, a higher-than-expected exposure that surprised the market.

Hermes has appointed menswear designer Grace Wales Bonner as the new creative director of menswear.