The much-anticipated 2023 Hermès price increase has officially arrived in Europe. If you’re lucky enough to be offered your dream Hermès Birkin or Kelly (or many others), be forewarned that you’ll now have to dig a bit deeper into your wallet. (Read: Hermès Is Still A Bargain In Paris For Americans). Hermès prices in Europe have risen in the range of 8 – 10% compared to the previous year.

However it’s not just the iconic bags causing the money squeeze; the entire Hermès range, from fine and fashion jewelry to scarves, footwear, and homeware, is seeing substantial increases in price. We’ll delve into the details of the price adjustments for the most coveted Hermès bags in Europe and explore the factors that prompted this latest change.

Image courtesy: @westmountfashionista

What Sparked this Latest Price Increase at Hermès?

When announcing its Q3 2022 Financial Results, Hermès revealed plans to raise prices by 5-10% in 2023.

Read: Hermès Prices Will Be Rising Even While Revenues Soar

Hermès stated the rationale behind this decision lies in the rising manufacturing costs and the unpredictable fluctuations in currency valuations. Additionally, in the wake of the COVID-19 pandemic, Hermès refrained from imposing hefty price hikes.

Image courtesy: @thestylishfreelancer

Now, however, European consumers can expect to see more substantial upward adjustments, particularly when it comes to exotic and heritage leathers. In the United States, the price revisions are anticipated to range from 2% to 10%, with the possibility of some items experiencing even higher increases.

Read: US Hermès Price Increase 2023 – Here Are the New Prices

Image courtesy: @tamara

Nevertheless, despite bumps in the luxury markets worldwide, Hermès has continued to achieve remarkable sales and earnings growth. The brand’s sales surged by 22% in Europe, and 24% in France in the first half of 2023, as a result of both local and tourist sales.

Read: Hermès Revenues Rise 22% in First Half of 2023 With No Decline in United States

2023 Hermès Price Update in Europe: New Bag Prices

As forewarned, Hermès has increased its price in Europe – generally in the range of 8 – 10%. While it certainly appears that Hermès Seller Birkin and Kelly bags are experiencing a parallel price increase alongside the Retourne styles in 2023, it’s worth noting that certain materials are undergoing more significant price adjustments.

Image courtesy: @m.t.l1968

This year, Hermès’ prices rose in Europe by 8 – 21% for exotic leathers such as alligator, crocodile, and lizard. Additionally, the iconic heritage Box calfskin leather experienced a significant price surge of up to 19%.

Here are the confirmed new prices in Europe for Hermès quota bags. We will update this chart as prices become available.

Style	Leather	2022 (€)	2023 (€)	% Increase
Mini Kelly 20	Epsom	€6,150	€6,700	8.94%
	Chevre	€6,650	€7,250	9.00%
	Box	€7,750	€9,250	19.35%
	Lizard	€13,150	€16,000	21.92%
	Touch		€10,400
	Ostrich		€11,800
	Picnic		€12,200
	Matte Gator	€22,000	€26,200	19.09%
	Gator Satin Boreal	€24,200	€28,800	19.01%

Kelly 25	Epsom Sellier	€7,950	€8,650	8.80%
	Togo Retourne	€7,400	€8,050	9%
	Swift	€7,700	€8,400	9%
	Chevre Sellier		€9,250
	Retourne Matte Gator		€34,800
	Sellier Matte Gator		€51,000

Kelly 28	Epsom Sellier	€8,350	€9,100	8.98%
	Togo Retourne	€7,950	€8,650	8.88%

Kelly 32	Epsom Sellier	€9,050	€9,850	8.84%

Kelly Pochette	Matte Gator		€24,500
	Swift		€4,900

Kelly 20 en Desordre	Sellier	€9,500	€10,500	10.52%

Birkin 25	Togo	€7,400	€8,050	8.78%
	Sellier Epsom	€7,950	€8,650	8.80%
	BARENIA® Faubourg		€9,640
	Sellier Box	€10,400	€11,900	14.42%
	Lizard	€15,100
	Ostrich	€16,300	€17,800	9.20%
	Shadow		€10,100
	Matte Gator		€39,000

Birkin 30	Togo	€8,150	€8,900	9.20%
	Epsom	€8,050	€8,750	8.70%
	BARENIA® Faubourg		€9,800

Birkin 35	Togo	€9,050	€9,850	8.83%

Here are the prices for other Hermès bags:

Style	Leather	2022 (€)	2023 (€)	% Increase
Constance 18	Epsom	€5,850	€6,700	14.50%
	Chèvre	€6,750	€7,600	12.59%
	Swift with Mirror		€7,250
	Shiny Croc	€22,800	€27,000	18.42%
	Matte Gator with Mirror		€26,200

Constance 24	Epsom	€7,500	€7,600	1.30%

Picotin 18		€2,120	€2,380	12.26%
Picotin 22		€2,310	€2,550	10.39%
Cabas 40		€2,500	€2,750	10%
Evelyne 16		€1,450	€1,570	8.26%
Garden Party 30		€2,650	€2,900	9.43%
Bolide 1923- 25		€4,650	€5,300	14%
Herbag Zip 31	Retourne	€1,960	€2,170	10.70%

January 1st, 2023

As the New Year’s Eve countdown clock hit midnight, switching the year from 2022 to 2023, one thing was on the mind of many Hermès customers. Those promised substantial price hikes on products in beloved orange boxes were about to hit boutiques.

When Hermès announced its third quarter 2022 financial results- which, by the way, were very strong, rising 24%- it also foreshadowed upcoming spikes in its pricing. For a company typically tight-lipped about strategy and pricing, its openness at this time was surprising.

Unlike prior years where a 2-3% annual increase goes virtually unnoticed, the brand made a public statement. Product pricing would be rising by five to ten percent in 2023. Eric du Halgouet, Hermès’ President of Finance, blamed increased costs and currency movements. With roaring inflation, it was hard to disagree with the move, particularly as prices have been so stable over recent years.

Read:
Hermès Prices Will Be Rising Even While Revenues Soar
Why So Few Complaints About Expected Hermès Price Hike?

Image Credit: @mrs_bcworld

So now, here we are just hours into 2023 – with boutiques closed – and already there are rumors about the new pricing. We have confirmed changes in the cost of Picotin, Cabas, and Garden Party models in euros. As you can see below, the hikes range from 8.26% to 12.24%, or the higher end of the expected range to over and above.

We caution, however, that euro prices tend to be lower than those charged in other currencies, beyond discrepancies due to exchanges. In other words, these changes may not be reflective of the world wide situation.

Case in point- the 2022 U.S. price for a Picotin 22 was $3150, when you’d pay €2310 in, let’s say, France. In summer 2022, with the dollar and euro at or about par, the difference in pricing was not to adjust for differences in currency. A Picotin was simply more expensive in the United States.

Read: The Top 10 Handbag Articles of 2022

Image Credit: @miubb99

But assume, as we did last fall, that Hermès would hoist prices for most handbags 10%. The cost of a Birkin Togo 25 rises $1,010 from $10,100 to $11,110. In the 30 cm and 35 cm sizes, the hikes are from $11,300 to $12,430 and $12,400 to $13,640, respectively.

Interestingly, we hear rumblings of outrage about the rumored increased prices. Some even accuse Hermès of taking a page out of the Chanel pricing playbook. Recall that Chanel substantially and repeatedly increased prices over a relatively short period of time. The Medium Classic flap skyrocketed 51% in the last three years. In October 2019, it was $5800; now it is $8800, and rumors of another hike abound.

Image Credit: @wongerisme

With increases in the eight to ten percent range by Hermès, it is difficult to cast this move with the same brush as Chanel’s. Moreover, perhaps ironically, it is Chanel that has been accused of copying Hermès, in terms of marketing and pricing strategy: reaching to be top-tier as its prices approximate the five-figure level of Birkins and Kellys.

Image Credit: @shoepursemomma

As for what all of this means for our wallets and handbags, Hermès and otherwise, prices are up, at least in Europe. We’ll keep you posted as to the United States and other countries as information becomes available. In the meantime, let us know whether these price hikes will affect your purchasing plans.

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