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Hermès to Raise U.S. Prices to Offset New Import Tariffs

The luxury giant announces a May 1 price hike in the U.S. to fully neutralize the impact of President Trump’s 10% tariff, as Q1 sales growth slows to 7%.

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A woman walks in front of a Hermes store in Paris, France February 14, 2025. REUTERS/Abdul Saboor/File Photo
Hermès will increase prices on its Birkin and Kelly bags from May 1, 2025.

Overview

  • Hermès will increase U.S. prices across all product categories starting May 1 to fully offset the 10% import tariff imposed by the U.S. government in April.
  • The targeted price hike applies exclusively to the U.S. market, with no additional increases planned in other regions.
  • The company reported €4.13 billion in first-quarter 2025 sales, reflecting 7% year-on-year growth at constant exchange rates, slightly below analyst expectations.
  • Hermès saw strong sales growth in the Americas, up 13.3%, despite weather-related disruptions in the U.S., including wildfires and snowstorms.
  • The brand surpassed LVMH in market capitalization earlier this week, reinforcing its position as the world’s most valuable luxury group.