Hermes, St Tropez France
We here at PurseBop have been the leaders at giving you price updates and news affecting our leading luxury handbag designers. To help keep you in the know, PurseBop created handbag math to further investigate price shifts across the world. On January 5th, prices for Hermes goods sold in countries subscribing to the Euro have increased. This is not uncommon, as Hermes usually increases prices annually. There is no word on a US price increase yet. Typically, January is the month that price changes would take affect here in the US.
- Volatile financial conditions in 2015 lead to a weakening Euro
- Due to fluctuating currency prices, Chanel increased prices in Europe to narrow the price gap between countries (Read: Global Price Implications on Chanel Street)
- Hermes did not follow suit and did not increase their European prices to compensate for the devalued euro. (Read: Hermes Declines to Follow Chanel’s Lead)
- Hermes decreased their prices on many accessories here in the US as a way to narrow the pricing gap. (Read: Hermes Reduces Accessory Prices in the US)
- No word yet on any UK price changes but we anticipate them to hold steady given the relative strength of the British Pound
As of January 5th 2016, Hermes has increased their prices in Europe across the board ranging from 3% to 11% depending upon style and material. Take note of some of the price changes below:
Hermes Birkin 35
| Region | Hermes Birkin 35 (Togo) |
| USA 2015 | $11,900 |
| Europe 2015 | €7,400 |
| Europe 2016 | €7,750 |
| USD Equivalent | $8,342 |
Hermes Birkin 30
| Region | Hermes Birkin 30 (Togo) |
| USA 2015 | $10,900 |
| Europe 2015 | €6,750 |
| Europe 2016 | €7,000 |
| USD Equivalent | $7,620 |
Hermes Kelly 28
| Region | Hermes Kelly 28 (Togo) |
| USA 2015 | $9,990 |
| Europe 2015 | €6,450 |
| Europe 2016 | €6,800 |
| USD Equivalent | $7,385 |
Hermes Evelyne PM
| Region | Hermes Evelyn PM |
| USA 2015 | $3,375 |
| Europe 2015 | €2,160 |
| Europe 2016 | €2,410 |
| USD Equivalent | $2,617 |
Hermes CDC Bracelet
| Region | Hermes CDC Bracelet (Swift) |
| USA 2015 | $1,150 |
| Europe 2015 | €945 |
| Europe 2016 | €975 |
| USD Equivalent | $1,059 |
After Chanel’s price shift last year, CEO Axel Dumas reconfirmed Hermes’s intentions to maintain loyalty to their domestic consumer base:
“We have a very strong French and European customer base. If we significantly increased our prices at this juncture, that would mean giving up on local customers and that is something we do not want to do.”
His remarks still hold true. Instead of radically increasing prices to compensate for the devalued euro like Chanel, Hermes only adjusted prices to reflect their normal, annual increase.
PurseBop wonders: Is it possible that Hermes will not increase prices here in the states in further efforts to decrease the gap between Europe and the US ? For now we can only hope…
Explore more Hermes pricing news below:
Hermes in the Global Economy
Hermes Reduces Accessory Prices in the US
Hermes Declines to Follow Chanel’s Lead
Axel Dumas Outlines Hermes Long Term Strategy
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Updated: May 28th, 2017
Comments
3 Responses to “Hermes Increases Prices in Europe”
hope they don´t increase prices in the USA, it´s already much more expensive than in Europe…it´s like buying a Birkin 35 and almost getting a Boy as a gift… or getting the suuuuper gorgeous Small Chevron from the 2016 cruise collection ($2700) plus cash back…. so yeah, big price differences there. Great post hun! Thanks for sharing!!! xoxo
I was in Paris for New Years, and the day before the 1st, I went to Hermès there. I went back on the 3rd and the prices were already up ? But still better deal than here in the US!
Yes even with the marginal increase in Europe, you are wayyyy ahead of purchasing here in the U.S.
Thanks for sharing :)
oh, and were you lucky to score?