Happy 2024 – have you recovered from your New Year’s hangover yet? You might want to bring back the tequila and pick up where you left off.
Hermès Price Increase in 2024: An Unexpected Start
This year, Hermès decided to dispense with the usual full month of preparation for its annual price increases – which usually start somewhere around the beginning of February and proceed, by metièr, over the course of a few weeks – and hit US clients pretty much while they were still sleeping it off.
Global Impact: Hermès Price Changes Across Continents
While European and Asian clients have not been given that consideration and are used to new prices hitting the market pretty much as soon as the ball drops (and some countries, such as China, saw some price increases as early as December 22), Americans, and now most of the world, has been brought into line time-wise, if not price-wise, with all increases happening within roughly the same period.
The Hermès Zip Carabine Bag leads the US bag price hike with a 10.20% increase year-over-year.
It now retails for $5,400, up from $4,900 in 2023.
These are still implemented by department and are rolled out over two or three weeks, but they have certainly begun in earnest. Already, we have seen price changes in leather goods (January 2) and shoes (January 3), with ready-to-wear increases expected today.
Reasons Behind the Hermès Price Hike
Europe saw their increases begin to be implemented last week, and clients everywhere note the higher prices. Why the price hikes?
Hermès, like many companies, cites added costs for raw materials and labor, which is not unusual, although increased inflation has affected markets everywhere.
| Style | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| K25 Sellier Epsom | $10,300 | $10,300 | $10,300 | $10,600 | $11,300 | $11,800 |
| B25 Togo | $9,400 | $9,650 | $9,750 | $10,100 | $10,400 | $11,400 |
| B30 Togo | $10,900 | $11,000 | $11,000 | $11,200 | $11,600 | $12,500 |
Of course, at this point, the client has come to expect price increases; over the past twenty years or so, the entire luxury fashion industry has shifted (a point which I previously lamented in my Price Increase article from 2022) from making price changes a rare occurrence to a regular event.
In turn, it wouldn’t be a surprise to understand that brands have come to expect these regular increases and rely on them to whatever extent in anticipation of future profits.
Pre-Increase Purchasing: A Strategy to Avoid Higher Prices
The bump in income comes not only from the increased price; the effects of a price change begin before the new prices take effect.
This is due to the anticipation of an upcoming price change, which stirs clients to buy whatever they have been considering for fear that they will have to pay more for the same item if they wait too long.
Analyzing the Extent of Price Increases on Hermès Products
Although the big numbers get everyone’s attention, the amount of the increase varies per item. For shoes, prices have gone up more than 10%, with Orans going from $700 to $760, Paris Loafers from $1,100 to $1,225, Bouncing Sneakers from $920 to $990, and Chypre Sandals from $780 to $910.
It appears that leather goods have increased from about 3% to about 15%, with many increases hovering in the usual 6-7% range.
New 2024 Hermès Prices in the USA
Below is a preliminary list showing the previous US bag prices from 2023 next to the new 2024 prices. We will update this list as more prices become available; feel free to post new prices, further information, or corrections in the comments below.
Hermès Kelly/Birkin Prices in 2024
| Style/Size | Leather | 2023 Price | 2024 Price |
|---|---|---|---|
| Kelly 25 | Togo Retourne | $10,900 | $11,300 |
| Epsom Sellier | $11,300 | $11,800 | |
| Kelly 28 | Togo Retourne | $11,300 | $12,000 |
| Epsom Sellier | $11,800 | $12,500 | |
| Kelly 32 | Togo Retourne | $12,000 | $12,600 |
| Kelly Mini 20 | Epsom | $8,700 | $9,400 |
| Chevre | $9,450 | $10,100 | |
| Kelly Dépêches 25 | Togo | $8,450 | $9,000 |
| Birkin 25cm | Togo | $10,400 | $11,400 |
| Birkin 30cm | Togo | $11,600 | $12,500 |
Other Hermès Bag Prices in 2024
| Style/Size | Leather | 2023 Price | 2024 Price |
|---|---|---|---|
| Constance 18 | Epsom | $8,750 | $8,950 |
| Chevre | $10,000 | $10,400 | |
| Lindy Mini | Clemence | $6,650 | $7,300 |
| Lindy 26 | Clemence | $8,150 | $8,700 |
| Evelyne III 29 | Clemence | $3,650 | $3,850 |
| Bolide 1923 Mini | Chevre | $5,800 | $6,300 |
| Bolide 1923 25 | Epsom | $6,850 | $7,450 |
| Picotin 18 | Clemence | $3,025 | $3,300 |
| Eclat | $3,325 | $3,525 | |
| $3,775 | $4,125 | ||
| Picotin 22 | Clemence | $3,325 | $3,575 |
| Geta | Chevre | $5,950 | $6,450 |
| Garden Party 30 | Negonda | $3,775 | $4,125 |
| Herbag Zip 31 | Canvas | $2,825 | $3,050 |
| Herbag Zip Cabine | $4,900 | $5,400 | |
| Roulis Mini | Evergrain | $8,000 | $8,700 |
| 24/24 Mini | Evercoloir/Swift | $8,800 | $9,550 |
| Della Cavalleria Mini 18 | Epsom | $6,050 | $6,550 |
Hermès Bag Prices in Europe for 2024
Below is a preliminary list showing the previous EU bag prices from 2023 next to the new 2024 prices. We will update this list as more prices become available; feel free to post new prices, further information, or corrections in the comments below.
| Style/Size | Leather | 2023 Price | 2024 Price |
|---|---|---|---|
| Kelly 25 | Togo Retourne | €8050 | €9100 |
| Swift | €8400 | €9000 | |
| Epsom Sellier | €8650 | €9500 | |
| Chevre Sellier | €9250 | €9600 | |
| Kelly 28 | Togo Retourne | €8650 | €9600 |
| Epsom Sellier | €9100 | €10,300 | |
| Kelly 32 | Togo Retourne | €9200 | €10,000 |
| Epsom Sellier | €9850 | €10,700 | |
| Kelly Mini 20 | Epsom | €6700 | €7150 |
| Chevre | €7500 | €7700 | |
| En Desordre | €10500 | €11400 | |
| Ostrich | €11800 | €13500 | |
| Picnic | €12200 | €13500 | |
| Lizard | €16000 | €16200 | |
| Studded | €18000 | €19600 | |
| Alligator (Matte) | €26200 | €27900 | |
| Kelly Doll | Picto | €12300 | €13400 |
| Kelly Elan | Crocodile (Shiny) | €36600 | €39900 |
| Kelly Pochette | Swift | €4900 | €5200 |
| Kelly Danse | Lizard (Ombre) | €15200 | €16200 |
| Birkin 25 | Togo | €8050 | €8600 |
| Epsom Sellier | €8650 | €9000 | |
| Lizard | €15100 | €16700 | |
| Ostrich | €15650 | €16700 | |
| Alligator (Matte) | €39000 | €42100 | |
| Birkin 30 | Epsom | €8750 | €9250 |
| Togo | €8900 | €9400 | |
| Barenia Faubourg | €9800 | €10400 | |
| Birkin 35 | Togo | €9850 | €10200 |
| Constance 18 | Epsom | €6700 | €6950 |
| Chevre | €7700 | €8000 | |
| Swift with Mirror | €7250 | €7550 | |
| Studded | €20000 | €21800 | |
| Alligator (Matte with Mirror) | €26200 | €27000 | |
| Lindy Mini | Clemence | €5100 | €5500 |
| Lindy 26 | Clemence | €6250 | €6500 |
| Evelyne III 16 | Clemence | €1570 | €1660 |
| Evelyne III 29 | Clemence | €2800 | €2900 |
| Bolide 1923 25 | Epsom | €5300 | €5600 |
| Jypsiere Mini | Swift | €5500 | €6000 |
| Picotin Micro | Ostrich | €6450 | €7350 |
| Picotin 18 | Clemence | €2380 | €2490 |
| Picotin 22 | Clemence | €2550 | €2700 |
| Garden Party 30 | Negonda | €2900 | €3100 |
| Garden Party 36 | Negonda | €2800 | €3250 |
| Herbag Zip 31 | Quadrille/Hunter | €2170 | €2600 |
| Della Cavalleria Mini 18 | Epsom | €4650 | €4950 |
| 24/24 Mini | Evercoloir/Swift | €6750 | €7200 |
| Sac A Dos Off Piste | Epsom | €6100 | €6850 |
| Cabas H 40 | Canvas/Swift | €2750 | €2950 |
| Kelly To Go | Epsom | €4600 | €4900 |
| Constance To Go | Epsom | €4600 | €4900 |
In Europe, the highest percentage increase is for the Herbag Zip 31 (Quadrille/Hunter), which has an increase of 19.82%.
Price Increases Around the World
There is some anecdotal information available from other countries:
Australian prices went up by over 13% on silk, with the twilly increasing from AUD $320 to $370 and cashmere shawls going from AUD $1895 to $2140. Some fine jewelry, such as the Farandole bracelet, increased by as much as 22%, going from AUD $2995 to $3600.
Canada’s prices increased, on average, by about 10% on Fine Jewelry, 20% on Shoes, and almost 13% on Silk. A 90cm silk scarf increased from CAD 550 to 620, a 140cm cashmere shawl went from CAD 1600 to 1650, and Oran sandals increased from CAD 900 to 1050.
China saw bags go up at an average of around 10%, with some bags increasing by as much as 20%.
Clients in Singapore are reporting increases of about 10%.
The UK saw silks go up around 12%, with the 90cm going from £415 to £450 and the Twilly increasing from £190 to ¢210. Silver jewelry has increased from 10% to 18%.
Historical Price Reference Articles & Threads
Of course, we at PurseBlog enjoy keeping track of the many price changes over the years. How does this year compare? You be the judge:
- To read the 2023 Prices article, click here.
- To read the 2022 International Price Guide, click here.
- To read the article on 2022 prices, click here.
- To read the Late 2021 article, click here.
- To read the Early 2021 article (there were two price increases in 2021!), click here.
- To read the current PurseForum discussion on the 2024 price increase, click here.
- To read the PurseForum 2024 Prices thread, click here.
- To read the PurseForum 2023 Prices thread, click here.
I’m older and can afford many of anything at this point in life, but my better judgement says a firm NO WAY to these prices. I wish I had learned decades ago that it’s really not “things” that give us fulfillment, it’s our family, relationships, our mental well-being, our health, our purpose. I chased the flex for far too long but at least it wasn’t at these crazy prices.
Older but wiser
Always appreciate such informative articles!
Personally, I think the data would provide a clearer picture if specific percentage differences between 2023 and 2024 for each item were included in the table. Looking forward to more fun reads!
Thanks for the good analysis, always fascinating to see how the pricing grows over time and hear the journalistic take on why those prices are increasing.
Something to consider in the future for those who like more visual interpretations of the data–plotting the price on a chart, longitudinally. Some visual storytelling for the tables of prices and years and products would really take this kind of price reporting to the next level and differentiate PB’s content from other fashion media.
I am working on this and will update the historical pricing data to include a line graph. Just didn’t get in done in time prior to publishing.
Would also be interested to see more European prices w different leather varieties like Jonathan and box leather. Thanks!
Wow absolutely RIVETING….
Looking forward to a piece on watching water boil next.
Articles on increases are a downer and not what people come here for.
Also, anyone in the position to put down the $$ for an Hermes does not care about a price increase.
I am sorry you find these articles superfluous. The price increase articles rank among the most visited YoY for several years going, so I’d argue that they are quite popular. They make for a great historical reference and price guides for interested H buyers.
Well, it’s a great sleeping aide if not anything else.
Lol
Interested H buyers could care less about an increase in price. They just want to be among the elite whose thousands “Hermes” chooses to accept.
While price increases are frustrating, it is interesting that Hermès generally increases their prices in line with standard US inflation.
If you take the price of the B30 Togo in 2021 ($11,000) and plug it into the US Inflation Calculator for 2023, it comes out with $12,464.70 – which is basically the price in 2024.
The smaller more “coveted” bags (B25 and K25) have a price increase that’s a pinch higher than standard inflation, but that’s, IMO, excusable given how “fair” the price increases have been in the past.
Good observation. Yes, they are more reserved than Chanel
I think whether you pay EUR 10,000 or EUR 12,000 is not the problem here. It’s not about a vital purchase, but about a bag that you either want to have or not. In Germany, the biggest problem is getting a bag. I really tried, but even the sales assistants really think it’s you. For the Kelly Mini you had to make an appointment in advance by email, just one appointment to order the bag and then the bag doesn’t arrive. I’ve been on the waiting list for the Constance for 4 years and then I see all the influencers coming out of the shop with the bags. I think Hermés only sells primarily according to importance and real customers (i.e. customers who also buy their clothes). The same with the shoes. You just don’t get them unless you really show off. Last year I was in Sardinia and bought a fake that looked like the real thing for EUR 480. And after this action I thought to myself: why should I walk around with a fake bag just because Hermés doesn’t sell me a bag? Since then, I’ve gone one step further and avoided Hermés’ policy and therefore also their products. No bag in the world is worth such a fuss. I really hope that at some point the hype will be over and nobody will be interested in these bags any more. Pride comes before a fall. Hopefully I’ll read somewhere at some point: the deep fall of Hermés. Chanel isn’t any better, but you will get the bags there at some point.
Hi, I’m also from Germany and I was thinking to make soon a trip the Hermés store in Hamburg… Do you think i’d have any chance to get a Picotin?
Try online. I just saw a bolide on Nertherlands Hermes site
The Picotin is not difficult to get unlike the BKC’s. You can just pop on an Hermès shop in Germany and, if they have the colour and size that you want (except for the BKC’s), you can go home with it.
Anyone has info on the price update for Della Cavalleria Elan? I watched an unboxing video in YouTube (https://www.youtube.com/watch?v=dNrdd8D4jWE) and I feel it is a pretty bag and I like it compared to the Mini version.
The YouTuber posted a price increase for DC Elan. I would say a fair price increase. Looking forward to this bag model!
I couldn’t find the price of Constance 18 ostrich ?
Hi,
Is there some reason why larger size Hermès bag prices have not been included in PB price lists for the past few years? ? Surely, Hermès is still making 35 and 40 cm bags. I do see that you included a 35cm Togo Birkin price. Personally, I’m a go big-or go home kind of Hermes bag aficionado.