Hermès to increase prices by up to 9%
Sad news for potential Hermès buyers, presumably good news for existing customers: the French luxury goods house is reportedly planning on a price increase on its products in about 12 days, by as much as 9% (and when you’re talking Hermès prices, that’s significant).
The group’s CEO, Patrick Thomas, cites “significant raw-material cost increases, particularly for silk, cashmere and crocodile skin” as the primary reason for the impending hike. While there are conflicting reports as to when and by how much prices will rise, some boutique reps say the price adjustments of up to 9% on scarves and leather goods may kick in by as early as January 24th, while other sources cite mid-February.
If you’re planning to buy another Birkin or Kelly, now’s the time to dash off to the Hermès flagship on Fashion Avenue. Owners of the maison’s iconic goods who are planning to put their handbags up on the second-hand market may want to hold off until the price increases are put into effect.