French luxury brand Hermès announced plans to increase its U.S. prices starting May 1 to counter the impact of a 10% import tariff imposed by President Donald Trump. The company’s CFO, Eric Halgouet, confirmed the price hike during a quarterly earnings presentation, saying the adjustment is meant to “fully offset” the new trade costs. While he didn’t reveal specific figures, he noted the pricing changes are being finalized and are aimed at neutralizing the financial impact of the tariffs.
This price change comes on top of a global increase of 6–7% that Hermès had already rolled out earlier in 2025 as part of its standard annual adjustment. Known for its signature Birkin bags, silk scarves, and the classic “H” logo on many of its products, Hermès maintains its reputation as one of the most exclusive names in luxury fashion.
Despite some headwinds, including wildfires in Los Angeles and snowstorms in other U.S. states that temporarily closed stores, Hermès delivered strong first-quarter results. Global sales hit 4.1 billion euros ($4.7 billion), marking an 8.5% increase year-over-year. In the Americas, revenue jumped 13.3%, driven by solid growth in the U.S., Canada, Mexico, and Brazil.
The announcement follows a major milestone for the company as Hermès recently surpassed LVMH to become the world’s most valuable luxury group. While the new U.S. tariffs apply broadly, higher duties on goods from the European Union were postponed, giving companies like Hermès a narrow window to make pricing and supply chain adjustments without taking a financial hit.