Hermès Is Hiking Prices. Other Luxury Companies Will Follow.
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While the final U.S. tariff rate on Europe hasn’t been set, the Paris-based company is already accounting for President Donald Trump’s baseline 10% tariff on all imports that went into effect earlier this month. Starting May 1, Hermès plans to increase prices in the U.S. “across all the different divisions and businesses.” “We remain cautious because we know that these announcements have a huge impact on the financial markets,” Eric du Halgouët, executive vice president of finance at Hermès, said on a call with investors Thursday.
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