Hermès to raise US prices amid new tariffs
Hermès Spring/Summer 2025 collection on display at Maison Hermès, Huaihai Road, Shanghai.
Hermès will raise US prices across product lines beginning May 1. The French luxury brand made the announcement in response to the recently imposed 10 percent tariffs. The adjustment comes on top of the brand's usual 6-7 percent annual price hike.
Eric du Halgouët, Chief Financial Officer, stated that the price hike aims to absorb the tariff impact fully while maintaining the company's profitability.
Hermès' global sales in the first quarter of 2025 were 4.1 billion euros (US$4.7 billion), up 7 percent year on year but somewhat lower than analysts expectations. Sales in the Americas increased by 11 percent, while growth in Asia (excluding Japan) slowed to 1 percent. Despite the weak quarter, Hermès remains the world's most valuable luxury brand.
