French luxurious group Hermes stated Thursday it will hike its costs within the United States to offset the influence of 10-percent import tariffs imposed by President Donald Trump.
Famous for its Birkin purse, silk scarves and leather-based items, the will increase would take impact on May 1, stated the group’s finance chief, Eric Halgouet.
Halgouet didn’t say by how a lot costs could be raised, however he stated the transfer would “fully offset” the tariffs influence.
“It will be a complementary price increase that we are currently finalising, but which will allow us to neutralise this impact,” he advised reporters throughout a quarterly earnings presentation.
Hermes, additionally identified for the “H” emblem on its belts and different items, normally raises costs annually and had already introduced worldwide enhance of between six and 7 % earlier in 2025.
Hermes overtook French rival LVMH because the world’s Most worthy luxurious group this week after the share value of the Louis Vuitton maker sank on disappointing earnings.
Hermes posted world gross sales of 4.1 billion euros ($4.7 billion) within the first quarter of 2025, an 8.5 % enhance from the identical interval final yr.
Sales within the Americas area jumped 13.3 % to 695 million euros, with double-digit progress within the United States, Canada, Mexico and Brazil, Halgouet stated.
US gross sales have been disrupted by wildfires in Los Angeles, which compelled the closure of two retailers for a number of days, and snow storms in different states.
Trump imposed a ten % tariff on imports from world wide this month, however he delayed greater duties on dozens of different international locations, together with a 20 % levy for items from the European Union.
Source: www.anews.com.tr