Hermes to hike US prices to offset tariff impact

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PARIS: French luxurious group Hermes stated Thursday it will hike its prices within the United States to offset the impact of 10-percent import tariffs imposed by President Donald Trump.
Famous for its Birkin purse, silk scarves and leather-based items, the will increase would take impact on May 1, stated the group’s finance chief, Eric Halgouet.
Halgouet didn’t say by how a lot prices can be raised, however he stated the transfer would “fully offset” the tariffs impact.
“It will be a complementary price increase that we are currently finalising, but which will allow us to neutralise this impact,” he advised reporters throughout a quarterly earnings presentation.
Hermes, additionally identified for the “H” emblem on its belts and different items, often raises prices yearly and had already introduced worldwide improve of between six and 7 % earlier in 2025.
Hermes overtook French rival LVMH because the world’s most useful luxurious group this week after the share worth of the Louis Vuitton maker sank on disappointing earnings.
Hermes posted world gross sales of 4.1 billion euros ($4.7 billion) within the first quarter of 2025, an 8.5 % improve from the identical interval final yr.
Sales within the Americas area jumped 13.3 % to 695 million euros, with double-digit development within the United States, Canada, Mexico and Brazil, Halgouet stated.
US gross sales have been disrupted by wildfires in Los Angeles, which pressured the closure of two retailers for a number of days, and snow storms in different states.
Trump imposed a ten % tariff on imports from around the globe this month, however he delayed larger duties on dozens of different nations, together with a 20 % levy for items from the European Union.