Price Increases: Why Is Hermès Getting Expensive
Hermès first opened its doors in Paris in 1837 as a luxury harness and equestrian goods workshop.
Anticipating the decline of horse-drawn transportation due to the rise of automobiles, Hermès began crafting women’s handbags and wallets in 1903. Over time, the brand introduced a series of groundbreaking collections, including the iconic Kelly, named after actress Grace Kelly, and the elegant Birkin, both of which captured the hearts of fashion lovers around the world.
Today, Hermès has secured its place as one of France’s most prestigious luxury brands, admired by women everywhere.
In recent years, however, Hermès has been implementing significant price increases, typically once or twice a year. The more popular the item, the greater the price hike, leading many to comment, “Hermès keeps getting more and more out of reach,” or ask, “How long will these price hikes continue?”
This article takes a deep dive into Hermès’s price trends since 2023 and the reasons behind the increases. We’ll also explore how these price changes impact resale values. Whether you're planning to buy or sell Hermès, this is essential reading.
When Did Hermès's Price Increases Start? How Much Have Prices Gone Up?
Let’s begin by looking at the timing of Hermès’s recent price revisions and the extent of the increases. If you’re planning to purchase Hermès, this section will be invaluable.
Did Hermès Raise Its Prices in 2023?
Yes, Hermès raised prices not only in 2024 but also in January 2023. The increases applied across the board—from the Birkin, Kelly, and Bolide to wallets, watches, and accessories.
Most items rose by 10–13%, and for some of the most sought-after pieces, prices jumped significantly. For context, in 2022, Hermès revised its prices in both February and August, with an average increase of around 5–6%. Clearly, 2023 marked the beginning of more dramatic price hikes.
Price Changes on February 1, 2024
On February 1, 2024, Hermès implemented another round of price increases. This time, the hikes affected nearly all signature collections—from the Birkin, Kelly, Picotin, and Bolide to small items like the Rodeo charm and Twilly scarves.
Some products saw increases approaching 30%. While Hermès has adjusted prices many times before, the scale of this particular revision shocked even longtime followers of the brand.
Hermès Price Increase on February 1, 2025
Hermès revised its prices yet again on February 1, 2025. This time, the average increase was about 9%, with some products going up by as much as 20%.
The reasons behind these increases include growing global demand, rising production costs, the brand’s commitment to preserving its exclusivity and luxury positioning, as well as tariffs and currency fluctuations driving up costs.
High-demand categories such as bags, accessories, and small leather goods were once again the most affected.
Given the likelihood of continued price adjustments in response to market trends, those considering a purchase are encouraged to act sooner rather than later. Be sure to check the latest prices at the time of sale, and don’t miss the opportunity to buy before the subsequent increase.
Why Is Hermès Raising Its Prices? 4 Key Reasons Explained
So, why exactly is Hermès increasing its prices? Let’s break down the main reasons into four key points.
1. Rising Costs of Raw Materials and Production
Hermès began as a luxury harness maker, and its commitment to using only the finest leather has never wavered. To maintain its exceptional standards, Hermès partners with some of the world’s most prestigious tanneries to source only top-quality leather.
For example, the renowned French tannery Tanneries Du Puy—one of Hermès’s trusted suppliers—focuses on quality from the ground up, starting with how the cattle are raised. These cows are nurtured in wide-open pastures with clean water, and their hides are tanned over three times longer than average to achieve a supple, high-grade finish.
As a result, the cost of production—from labor to feed to processing—is exceptionally high. In particular, the cost of cattle feed has surged in recent years due to extreme weather and global conflicts, further pushing up leather prices.
To preserve its product quality, Hermès is left with little choice but to raise prices, and this trend is likely to continue.
2. Soaring Demand Outpacing Limited Supply
Hermès is a globally recognized luxury brand synonymous with status and fashion, especially in its home city of Paris. Signature items like the Birkin and Kelly bags are in extremely high demand, often commanding premium prices even in the resale market.
However, each Hermès item is handcrafted by skilled artisans, meaning mass production isn’t possible. To manage the imbalance between growing demand and limited supply, Hermès regularly increases its prices.
Generally speaking, price increases help temper demand, and Hermès uses this strategy to maintain balance in the market. As demand continues to outstrip supply, periodic price adjustments are expected to remain part of Hermès’s long-term strategy.
3. Maintaining and Elevating the Brand Image
A significant reason Hermès continues to enjoy global acclaim is its carefully cultivated brand image. From its long-standing heritage and impeccable materials to its iconic designs, Hermès stands in a league of its own.
Its exclusivity is further reinforced by its clientele, which includes royalty (such as the British royal family), global celebrities, and high-profile figures.
If Hermès were to lower its prices and become more accessible, its sense of exclusivity—and by extension, its appeal—could be diminished. By implementing regular price increases, Hermès reinforces its position as an elite luxury brand and preserves its distinctive image.
4. Tariffs and Currency Fluctuations Are Driving Up Costs
Another key factor behind Hermès’s price hikes is the rising cost of international trade. As global tariffs increase and exchange rates fluctuate, the company faces higher expenses when importing raw materials and exporting finished products.
For example, in response to new U.S. tariffs on European goods, Hermès adjusted its prices in North America to offset the impact. With trade tensions and currency volatility showing no signs of easing, these additional costs are being passed on to consumers in the form of higher retail prices.
Hermès Price Increases and Trends After the 2025 Revision
Below is a breakdown of Hermès’s 2025 price revisions, showing the before-and-after prices and the rate of increase for each item. Note that price changes vary depending on the model, material, and item. For the latest prices and detailed information, we recommend checking with a Hermès boutique or visiting the official website.
1. Price Increases for Bags
Item | Before | After | Increase |
Birkin 25 Togo | $12,130 USD | $13,130 USD | 8.2% |
Birkin 30 Togo | $13,280 USD | $14,360 USD | 8.1% |
Birkin 35 Togo | $14,440 USD | $15,510 USD | 7.4% |
Birkin 40 Togo | $15,510 USD | $16,740 USD | 7.9% |
Kelly 25 Retourné Togo | $11,980 USD | $12,980 USD | 8.3% |
Kelly 28 Retourné Togo | $12,670 USD | $13,740 USD | 8.5% |
Constance Mini Epsom | $9,520 USD | $10,210 USD | 7.3% |
Constance 24 Epsom | $11,520 USD | $12,440 USD | 8.0% |
Picotin Lock 18 Taurillon Clémence | $3,420 USD | $3,750 USD | 9.6% |
Picotin Lock 22 Taurillon Clémence | $3,710 USD | $4,040 USD | 8.9% |
Bolide 27 Epsom | $7,430 USD | $8,060 USD | 8.6% |
Evelyne 16 Taurillon Clémence Bandoulière | $2,280 USD | $2,440 USD | 7.1% |
Garden Party 30 Negonda | $4,400 USD | $4,620 USD | 5.1% |
Garden Party 36 Negonda | $4,680 USD | $4,910 USD | 4.9% |
Let’s look at some examples of the bag price increases announced for February 1, 2025. For instance, the “Birkin 25 Togo” rose from $12,130 USD to $13,130 USD, an 8.2% increase, pushing it from the $11,870 USD range into the $13,260 USD range. Similarly, the “Kelly 25 Retourné Togo” increased by 8.3%, from $11,980 USD to $12,980 USD.
These price hikes are largely attributed to rising demand for popular Hermès bags and the increasing cost of production. The prices of materials and the labor-intensive craftsmanship involved play a significant role, and price adjustments have become essential to maintain brand quality.
With this latest revision, Hermès bags have become even more exclusive. If you're considering a purchase, now may be the time to act.
2. Price Increases for Wallets and Cardholders
Item | Before | After | Increase |
Constance To Go Epsom | $6,140 USD | $7,000 USD | 14.1% |
Kelly To Go Epsom | $6,140 USD | $7,000 USD | 14.1% |
Béarn Soufflet Epsom | $3,880 USD | $4,220 USD | 8.9% |
Some of Hermès’ most popular wallets and cardholders have also seen notable price hikes. For example, both the “Constance To Go Epsom” and the “Kelly To Go Epsom” increased by 14.1%, from $6,140 USD to $7,000 USD. These are highly sought-after items known for their functionality and stylish design, and demand is expected to remain strong despite the price rise.
The “Béarn Soufflet Epsom,” known for its luxurious leather and refined look ideal for business use, went from $3,880 USD to $4,220 USD, an increase of about 9%.
As with the bags, these changes reflect growing demand and rising raw material costs. Additional price revisions are likely in the future, so early purchase is recommended.
3. Price Increase for Watches
Item | Before | After | Increase |
H Watch Mini 21 | $3,460 USD | $3,780 USD | 9.1% |
The H Watch is iconic for its sleek, minimalist design and the signature Hermès “H” logo on the dial. The “H Watch Mini 21” increased from $3,460 USD to $3,780 USD, a 9.1% price jump.
Following the 2024 increase, the 2025 revision has now pushed the price past the $3,000 mark. With strong demand fueled by Hermès’s reputation for quality and design, another hike bringing it over $4,000 USD may not be far off.
4. Price Increases for Shoes
Item | Before | After | Increase |
Oran Sandals | $830 USD | $880 USD | 5.5% |
Bouncing Sneakers | $1,080 USD | $1,240 USD | 15% |
Mocassins Paris | $1,330 USD | $1,420 USD | 6.9% |
The Oran sandals, known for their iconic H-shaped upper, saw a 5.5% price hike with the February 2025 revision. With leather costs continuing to rise, further increases are likely.
The lightweight and comfortable Bouncing sneakers had a notable 15% price jump, showing a strong upward trend. Meanwhile, the elegant Paris Moccasins, featuring H-shaped metal accents, climbed to over $1,400 USD for the first time, with a 6.9% increase.
As leather product prices across the board continue to rise, those considering a purchase should act sooner rather than later.
5. Price Increases for Accessories
Item | Before | After | Increase |
Chaine d’Ancre MM SV | $1,730 USD | $1,830 USD | 5.8% |
Chaine d’Ancre GM SV | $1,860 USD | $1,970 USD | 5.8% |
Chaine d’Ancre TGM SV | $2,000 USD | $2,110 USD | 5.8% |
Enchaînée Ring PM SV | $600 USD | $710 USD | 17.9% |
Farandole Bracelet SV | $860 USD | $940 USD | 9.8% |
The February 2025 revision also brought price increases for accessories like the Chaine d’Ancre and Enchaînée series. The silver Chaine d’Ancre items in MM, GM, and TGM sizes—all consistently popular thanks to their refined design—saw uniform price hikes of 5.8%.
The Enchaînée Ring PM had a significant 17.9% increase, rising from $600 USD to $710 USD. Similarly, the Farandole Bracelet went up nearly 10%.
These accessories are especially popular among younger buyers. However, due to the rising cost of silver, more price increases are expected down the line.
Consider Pre-Owned Options to Buy Hermès Items at the Best Price
Hermès prices have been steadily increasing every year, making it increasingly difficult to purchase brand-new items. That’s why the pre-owned market is becoming a smart alternative.
Pre-owned Hermès items are often available at lower prices than retail, and you can even find unused or like-new pieces at a good deal. Another major appeal is the chance to discover rare colors or discontinued models that are no longer available at official boutiques.
However, when buying pre-owned, it’s essential to choose a reputable specialty store. In that regard, Gallery Rare is highly recommended. Our professional appraisers conduct strict authentication checks and only offer high-quality items so that you can shop with confidence.
If you're looking to score a deal on Hermès while prices continue to rise—or if you’d like to browse from the comfort of your own home—be sure to check out the official Gallery Rare online store.
How Are Hermès Price Hikes Related to Buyback Prices?
When Hermès raises its prices, resale values also tend to increase. This is because a rise in retail prices boosts the overall value of the item, which in turn raises the value of pre-owned goods as well.
This is especially true for the Birkin, which is already limited in availability at official boutiques and sees strong demand on the secondary market. For example, a near-mint Birkin 25 in Togo leather and a popular color can fetch between $6,980 USD and $13,960 USD in resale value.
Birkin bags are not only prized for fashion but are also considered investment pieces. With further price increases expected, the resale value of Hermès items is likely to remain strong. If you have a Birkin sitting unused at home, selling it around the time of a price hike could help you get the best value.
Best Ways to Sell Hermès Items During a Price Hike
To sell your Hermès bag for the highest price possible, timing the market, especially around price hikes, is key. Here are two recommended selling methods:
1. Selling Through a Marketplace App
One option is to use a marketplace (flea market) app. The most significant advantage is that you can set your own price, meaning you may be able to sell your Hermès item at a price you're happy with.
However, you’ll need to handle everything yourself—from listing the item to dealing with buyers and completing the sale. And since transactions are typically peer-to-peer, there's a higher risk of trouble or disputes.
If you’re already familiar with using these apps, it might work for you. But for beginners, it’s not the most recommended method for selling high-value items like Hermès.
2. Selling to a Buyback Specialist
The second option is to sell your Hermès item to a professional buyback store. The most significant advantage here is convenience—you simply bring your item in and receive a cash offer, with no need to list it yourself or deal with potential buyers. However, if the buyer is not a luxury brand specialist, there’s a risk of getting a lower-than-market offer.
That’s why we recommend Gallery Rare, a trusted luxury resale store founded in 1979. Our team of experts has deep knowledge and experience in evaluating luxury items, ensuring your Hermès piece is assessed fairly and accurately. If you’re looking to sell Hermès during a price hike, consider using a trusted specialist like Gallery Rare.
Conclusion: What to Know About Hermès Price Increases
- The main reasons behind Hermès's price hikes are rising material costs, supply-and-demand imbalances, efforts to elevate the brand image, and tariffs and currency fluctuations.
- If you want to sell your Hermès items for top value, Gallery Rare is a highly recommended option.
In this article, we’ve explained the reasons behind Hermès's price increases and their impact on resale value. Prices have risen significantly in recent years—items that once cost under 1 million yen now often sell for nearly 2 million yen.
Hermès prices are expected to keep rising, so the earlier you buy, the better the deal you’re likely to get.
If you already own Hermès pieces, consider selling them around the time of a price hike to maximize their value. For those looking to sell, we highly recommend using a trusted luxury resale shop like Gallery Rare.
*Please note that the prices listed in our blog are for reference only and are converted from Japanese Yen (JPY) to US Dollars (USD) using the exchange rate of June 2025. Prices on the sales site include customs duties and shipping fees. Actual exchange rates may vary.