Hermes, the luxury fashion house known for the Birkin bag, announced plans to raise U.S. prices by the current 10% tariff imposed on the EU. This decision follows sluggish sales reported for the first quarter of the year, which grew only 7.2% compared to 18% in the previous quarter. Hermes remains cautious yet expects to maintain its strong market position, relying on its pricing power unlike many competitors. The company’s revenue reached $4.69 billion but slightly missed analyst expectations, indicating resilient performance amid economic uncertainties.
Hermes plans to raise prices in the U.S. to counter tariffs, ensuring growth stability despite sluggish sales amid changing economic conditions.
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