If your new year’s resolution included buying more Hermès handbags or accessories, then you might want to move some money between your accounts and make some power moves, because time is of the essence. Both users on our Forum and shopping site Mizhattan have confirmed that Hermès will make a significant price increase in US boutiques before the end of the mont, affecting almost all of the brand’s product categories.
Reports indicate that price increases will be between 5% and 10%, depending on category, and that bags in particular will increase on January 28. If you’re a silk lover, you have a little bit longer–we’re hearing that scarves will get their increase in February. Smaller categories are also affected; gloves and hats will increase on January 20, and some homewares will follow on January 30. Ready-to-wear will also get a price hike early next week.
Hermès’ last price increase was almost exactly a year ago, with prices going up a similar six to ten percent. A year before that, Hermès’ January price increase was seven to ten percent. It will likely not shock you to find out that the same thing happened in January 2012. Hermès shoppers should know to get their shopping done before New Year’s for the foreseeable future. Worldwide demand for Hermès continues to grow, and higher prices only help to preserve the air of exclusivity that the brand so meticulously cultivates.
If you’re a European customer, I have some bad news (of which you are likely already aware): your price increase has already happened.