Hermès Announces Q3 Revenues

Hermès has confirmed expectations of a significant price adjustment for 2023, with planned increases ranging from 5% to 10%. This marks a departure from the brand's typical annual hikes of around 3%, driven by rising costs and currency fluctuations, as explained by Eric du Halgouet, the brand's finance president. For aficionados, this means a potential ,000 addition to a ,000 Birkin—a change that, while substantial, is unlikely to deter dedicated collectors given the enduring demand-supply gap.

Record Q3 Performance

The luxury house reported a remarkable 30% surge in third-quarter revenues (24% at current exchange rates), with growth across all business segments. Notably, the Leather Goods and Saddlery division saw a 13.2% increase at constant exchange rates, reflecting sustained interest despite inventory constraints. Ready-to-Wear jumped 42%, while Watches more than doubled, propelled by new model launches and celebrity endorsements.

Regional Growth and Market Dynamics

Geographically, Asia (excluding Japan) led with a 31% revenue increase in Q3, followed closely by France and the Americas at approximately 28% each. The planned price hikes are expected to influence the secondary market, potentially enhancing the value of existing collections. While some enthusiasts privately welcome faster appreciation, others may find the extra time to save for their dream bag.

Featured Hermès Pieces

Hermès Vintage Mini Gold Courchevel Shoulder Kelly 20
Hermès Micro Pink Epsom Birkin 15
Hermès Togo Kelly Retourne 25 Trench
Hermès Pink Sakura Clemence Evelyne TPM
Hermès Metallic Chevre Chamkila Mini Kelly Sellier 20 Dore
Hermès Rose Sakura Swift Kelly 25
Hermès Gris Asphalte Clémence Picotin Lock 22

Hermès Vintage Mini Gold Courchevel Shoulder Kelly 20

Hermès Metallic Chevre Chamkila Mini Kelly Sellier 20 Dore

Hermès Gris Asphalte Clémence Picotin Lock 22

As Hermès navigates this new pricing landscape, the question remains: will a 10% increase alter your purchasing plans? With limited availability, some may appreciate the extended saving period, while others might see it as an opportunity to invest further in a brand that continues to redefine luxury.

Hermès price increase 2023 Birkin Kelly

Hermès Q3 2022 revenue growth

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When will Hermès increase prices in 2023?

How much will Hermès bags cost after the 2023 price increase?

Why is Hermès raising prices by 5-10%?

Will the Hermès Birkin price increase affect resale value?

What is the typical annual Hermès price increase?

How does Hermès price increase compare to other luxury brands?

Are Hermès price hikes due to inflation?