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Hermès China to raise prices by up to 12%

Hermès is set to raise prices in China starting this month. A company representative confirmed the price increase, though the exact percentage and specific prices will vary by store. Price adjustments are a regular occurrence for Hermès at the end of each year. Industry insiders estimate the price hike will range from 6% to 12%. The iconic Birkin bag, in particular, will exceed 100,000 RMB ($13,600), with all price adjustments expected to be completed by January 1, 2025. According to financial reports, Hermès’ Q3 revenue grew 11.3% YoY to 3.7 billion euros ($3.9 billion) at constant exchange rates, slightly surpassing analyst expectations of 11%. Revenue for the first three quarters rose 14% to 11.2 billion euros ($11.8 billion). Hermès CFO Eric Du Halgouet has publicly stated that the brand remains resilient, especially in the Chinese market, standing in stark contrast to other brands in the industry.

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