European luxury brand Hermes announced on Thursday that it would raise its prices in the US to help offset President Donald Trump’s ten-percent buy tariff increase.
The increases may take effect on May 1, according to the group’s financing captain, Eric Halgouet, the company’s renowned for its Birkin bag, silk hats, and leather goods.
Halgouet did not specify how much the price would rise, but he claimed the action had “fully offset” the effects of the tariffs.
In a quarterly earnings lecture, he said,” It will be a comparable price increase that we are currently finalizing, but which will enable us to neutralize this impact.”
Hermes, which is also known for the” H” logo on its belts and other goods, typically raises prices once per year. Its global increase was already estimated to be between six and seven percent in 2025.
Hermes surpassed European foe LVMH in this week’s rankings for the world’s most expensive luxury team despite LVMH’s slumping stock price.
Hermes reported 4.1 billion euros ($ 4.7 billion ) in global sales for the first quarter of 2025, an 8.5 % increase over the same period last year.
Profits in the Americas area increased 13.3 percentage to 695 million dollars, according to Halgouet, with double-digit rise in the US, Canada, Mexico, and Brazil.
Wildfires in Los Angeles, which caused the closing of two stores for many times, and winter storms in various states caused disruption to US sales.
Trump delayed higher duties on lots of other nations, including a 20 % charge for goods from the European Union, after imposing a 10 % tax on exports from all over the world this month.
