On Thursday, Hermès announced it would increase prices in the US to mitigate potential impacts from tariffs imposed by President Trump's administration. Although the company hasn't yet felt the tariffs' impact, it aims to prepare for possible challenges to growth. The price increase will only affect the US market, while Hermès also plans to hire more staff. Despite recent price hikes and a slowing in sales growth, Hermès remains the most valuable luxury brand, surpassing competitors like LVMH.
The price increase that we're going to implement will be just for the US. Since it's aimed at offsetting the increase in tariffs, that only applies to the American market.
Although we've not yet felt the impact of tariffs, we're taking proactive measures to brace for potential growth challenges due to geopolitical changes.
Our first-quarter revenue reached €4.1 billion, showing growth in all regions, although at a slower pace compared to previous quarters.
Hermès has raised prices across the US and Europe, and despite market challenges, it remains committed to sustaining its expansion and growth strategy.
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