PARIS — Shares in Hermès International bumped up by the close of trading on Tuesday, following the news that British Jamaican designer Grace Wales Bonner will take the creative helm of the menswear collection.
Shares ended the day up 1.4 percent on the Paris Bourse, to 2,250 euros per share.
The news of the 35-year-old’s appointment to succeed Véronique Nichanian, who has been with the house for 37 years as fashion’s longest-serving designer, was announced midday Tuesday. Nichanian announced her departure Oct. 16.
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Nichanian will present her final collection for the house in January 2026, while Wales Bonner will present her first collection in January 2027, giving the new designer a long runway to ease into her new role.
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When Nichanian revealed her departure last Thursday, she said that news of her successor would be announced in the coming days. With the once-in-a-generation baton passed so quickly, it indicates that the move had been in the works for some time and the transition will go smoothly.
Full third-quarter results are scheduled for Wednesday morning before market opening, with analysts expecting the company to report organic growth of 9.7 percent across all categories.
Sales for the house’s ready-to-wear, which has been a quietly climbing power player for the brand, are expected to be up 8 percent in the three months to Sept. 30, according to analyst notes.
Leather goods sales for the brand, most famous for its Birkin model as well as the Kelly, are predicted to be up 14.5 percent as Hermès continues to outpace its rivals.
Nichanian was known for epitomizing “quiet luxury” long before it was a trendy term, by creating an Hermès signature look that combined comfort, luxury, utility, beauty, heritage and simplicity for a very “if you know you know” aesthetic.
Analysts had believed that Hermès would hire from within the ranks, with longtime associates being tipped as possible successors. Bringing in Wales Bonner, who has her own 10-year-old brand, was an unexpected move from the house.
“If they were going to recruit outside, I think it would be someone with a really strong identity that aligns with the house already. I don’t think this is the time for anybody to do a 180 on what they’re doing,” said Laia Farran Graves, author of “The Story of the Hermès Scarf.”
“It would be someone who had a very similar value code and maybe was kind of very simple in lines,” she added.
Bonner’s work is known for its cerebral quality and an intimate connection to history, identity and art. She reimagines classic tailoring, incorporating textured embellishments, artisanal craftsmanship and cross-cultural elements and deftly plays with high-low mixtures, as well as collaborations with mainstream brands such as Adidas.