As I reported last October, after Hermès CFO Eric du Halgouet told reporters about the early 2023 price increase, there was lot of talk about exactly how much the increase would be and on which products. Predictions hovered at around 5-10% in general, with the reasons cited for the increase including higher production costs (which includes both raw resources and Hermès’ production growth in the form of new workshops and craftsperson hiring/training) and currency fluctuations.
Impressive Sales Performance in 2022
This followed the announcement that Hermès’ 3rd quarter sales were up about 24% to over $3 billion (Hermès’ 2022 sales increase for the year was about the same percentage).
Although Asia accounted for the largest portion of Hermès’ revenue – almost half, which sounds impressive until you realize that Hermès prices in Asia are by far the highest; items in Asia are priced at about 30% higher than the same items in the US and nearly 60% higher than the same items in Europe – demand was higher in every market, especially in the United States, which has seen both large market growth and sIG if isn’t infrastructure expansion, including multiple new boutique openings and a brand new New York City Flagship.
New Prices Revealed for 2023
Well, the new prices have arrived; at the start of the year for Europe and at the beginning of February for the United States. While for leather goods, the price increases did hover generally around 5-10%, in some cases, they were significantly higher.
Bag | Leather | 2022 | 2023 | € ‘22 | € ‘23 |
---|---|---|---|---|---|
Kelly 25 | Togo | $9,900 | $10,900 | €7400 | €8050 |
Epsom (Sellier) | $10,600 | $11,300 | |||
Alligator | $36,100 | $42,000 | |||
Kelly 28 | Togo | $10,600 | $11,300 | €7950 | €8650 |
Epsom (Sellier) | $11,200 | $11,800 | €8350 | €9100 | |
Kelly 32 | Togo | $11,300 | $12,000 | ||
Clemence | $11,300 | $12,000 | |||
Epsom (Sellier) | €9050 | €9850 | |||
Kelly 35 | Togo | €9050 | €9200 | ||
Mini Kelly | Epsom | $8,250 | $8,700 | €6150 | €6700 |
Chevre | $8,900 | $9,450 | €6650 | €7500 | |
Box | €7550 | €9250 | |||
Lizard (Ombre) | €13200 | €16000 | |||
Ostrich | $15,500 | $16,400 | |||
Croc (Nilo) | €22000 | €26200 | |||
Croc (Poro) | €24200 | €28800 | |||
Kelly Doll | Gator/Swift | €10,200 | €11,300 | ||
Kelly Pochette | Swift | $6,050 | $6,500 | €4500 | €4900 |
Kelly Depeches 25 | Togo | $8,150 | $8,450 | ||
Evergrain | $8,400 | $8,750 | |||
Kelly en Désordre | Epsom | €9500 | €10500 | ||
Kelly To Go | Epsom | $4,575 | $5,500 | ||
Chevre | $4,700 | $5,500 | |||
Box | $6,150 | $7,600 | |||
Crocodile | €14400 | €16500 | |||
Birkin 25 | Togo | $10,100 | $10,400 | €7400 | €8050 |
Swift | €7700 | €8400 | |||
Epsom Sellier | €7950 | €8650 | |||
Ostrich | $19,600 | $20,200 | |||
Alligator | €32600 | €39000 | |||
Croc (Poro) | $49,300 | $52,100 | |||
Birkin 30 | Togo | $11,200 | $11,600 | €8150 | €8900 |
Touch (Togo & Gator) | $23,500 | €16500 | €18200 | ||
Alligator | €37520 | €40100 | |||
Constance 18 | Epsom | $7,950 | $8,750 | €5850 | €6700 |
Chevre | $9,200 | $10,000 | €6750 | €7700 | |
Constance 24 | Epsom | $10,200 | €7000 | €7500 | |
Constance To Go | Epsom | $5,350 | $5,500 | ||
Evercolor | $5,450 | $5,600 | |||
Mini Lindy | Clemence | $6,400 | $6,650 | €4700 | €5100 |
Swift | $6,850 | $7,100 | |||
Ostrich | $12,800 | $14,100 | |||
Lindy 26 | Clemence | $7,800 | $8,150 | €5750 | €6250 |
Swift Verso | $7,900 | $8,500 | |||
Evercolor | $8,400 | $8,400 | |||
Evelyne TPM | Clemence | $1,900 | $2,050 | €1400 | €1570 |
Evelyne PM | Clemence | $3,475 | $3,650 | €2550 | €2800 |
Maurice | $3,525 | $3,725 | |||
Bolide 1923 Mini | Chevre | $5,600 | $5,800 | €4100 | €4700 |
Bolide 1923 25 | Epsom | €4650 | €5250 | ||
Epsom Tricolor | $6,600 | $7,150 | |||
Bolide 31 | Clemence | $8,500 | $8,850 | ||
Della Cavalleria Mini | Epsom | $5,600 | $6,050 | €4100 | €4650 |
Picotin Micro | Swift | $3,200 | $3,325 | ||
Picotin 18 | Clemence | $2,875 | $3,025 | ||
Maurice | $2,950 | $3,100 | |||
Clemence Monochrome | $3,325 | $3,525 | |||
Pocket (Canvas & Swift) | $3,600 | $3,775 | |||
Touch (Clemence & Gator) | $4,225 | $4,825 | |||
Ostrich | $9,250 | $9,250 | |||
Picotin 22 | Clemence | $3,150 | $3,325 | ||
Jige Elan | Swift | $3,875 | $4,050 | ||
Geta | Chevre | $5,800 | $5,950 | ||
Garden Party 30 | Negonda | $3,600 | $3,775 | ||
Garden Party 36 | Negonda | $3,800 | $3,975 | ||
Roulis Mini | Evercolor | $7,400 | $7,750 | ||
Ostrich | $13,200 | $14,800 | |||
24/24 Mini | Evercolor & Swift | $8,450 | $8,800 | €6200 | €6750 |
24/24 29 | Togo & Swift | $9,200 | $9,600 | €6750 | €7350 |
Maurice & Swift | $9,250 | $9,600 | €6800 | €7400 | |
24/24 35 | Canvas & Swift | $9,800 | $10,200 | ||
Halzan 25 | Clemence | $5,050 | $5,300 | €3700 | €4050 |
Verrou Chaine Mini | Chevre | $8,450 | $8,800 |