Hermès Raising Prices in 2023: New Confirmed Price Increases

The rumors are true. In addition to introducing five new Hermès bags for spring/summer 2023, complete with shearling handles and lots (and lots) of fabulous feathers, prices have gone up. The Hermès price increases of 2023 are here. Purchasing a new Birkin or Kelly bag will set you   back, on average, roughly 10% more today than last year. If the price of the bag was $10,000 in December 2022, you can expect to pay about $11,000 today. 

But that’s not all. Expect heftier price tags for all Hermès bags, fine jewelry, fashion jewelry, footwear, scarves, home goods, cosmetics, and more. This Hermès price increase is a dramatic departure from the minimal increases (1.5-2%) the design house made during the height of the pandemic while its competitors’ prices skyrocketed. Let’s explore what is driving these changes, and then we’ll zero in on the specific price changes for your favorite bags.

Behind the 2023 Hermès Price Increases

The fashion world was rocked on October 20, 2022, when Eric du Halgouet, the executive vice president of finance at Hermès, announced that price hikes from 5-10% were likely for 2023. After holding its Hermès bag prices to minor increases during the Covid lockdowns, the French label is responding to global inflation and unexpectedly robust sales. Citing rising costs of transport, raw materials, and currency movement, the luxury brand is revealing higher prices, as promised. The 2023 Hermès price increases skewed toward the upper end of the 5-10% range we were told to expect, while some jumps were nearly twice that.

At the same time that inflation has roiled global markets, Hermès has seen record sales and earnings, with a 23% increase in 2022, more than double analysts’ expectations. While Asia accounted for nearly half of the revenue, the greatest growth, on a percentage basis, was in the Americas.  Defying predictions that the demand for high-end luxury bags will cool after the post-pandemic boom, Hermès has invested in hiring more artisans and expanding their workforce by more than 1600 people in 2022. “For the time being, we have no signs of slowdown in any of our markets,” said Eric Du Halgouët, Hermès’ Executive Vice President Finance. 

How the 2023 Hermès Price Increases Affect Collectors

While no one is celebrating the Hermès price increases of 2023, some collectors stand to benefit significantly. While many Birkin lovers wear their bags proudly, collectors keep them in climate-controlled vaults, allowing them to appreciate in value while remaining in pristine condition. These collectors value their Hermès bags as investments. For the past 40 years, those who invested in luxury handbags have seen a return rate better than the stock market.  

For investors, the Hermès bag price increases demonstrate the strength of their assets. The price increase likely sends the value of the bags they own even higher. Knowing their profit is virtually assured must take any sting out of the larger price tags.

2023 Hermès Bag Prices In USA

2023 Hermès Small Leather Goods Prices In USA

2023 Hermès Quota Bag Prices In USA

2023 Hermès Bag Prices for Constance, Picotin, and More In USA

2023 Hermès Bag Prices In Europe

Hermès does not publish its prices. So the details on the 2023 Hermès price increases have been crowd-sourced through a network of committed enthusiasts and brand VIPs. We are providing the most complete information we have at this time. So let’s dig into the Hermès bag prices in Europe for specific bag styles, leathers, and sizes. 

2023 Hermès Birkin Prices In Europe

You might expect to see the largest Hermès EU price increases for the Birkin bag, but you may be surprised. 

2023 Hermès Kelly Prices In Europe

The 2023 Hermès EU price increases for Kelly bags are in line with the price changes for the Birkin.

Although it appears that Hermès Sellier Birkins and Kelly bags are rising in tandem with the Retourne styles, it is intriguing to see different materials getting a significantly greater boost in price. The 2023 Hermès price increase for exotic bags crafted from skins like crocodile, alligator, and lizard, for instance, is substantial. It’s interesting, too, to see the box calf leather getting such a jump in price.

2023 Hermès Bag Prices for Constance, Picotin, and More In Europe

The Hermès EU price increase information for bags like the Constance, Picotin, Evelyne, Lindy, and others are below.