Hermès will increase prices in the US, passing on the extra costs from tariffs imposed by US President Donald Trump to consumers.
The hikes will come in from 1 May and will be on top of its regular annual increases of 6% to 7%.
It comes as the French luxury fashion house reported that sales were up at the start of the year, although perfume and beauty remained flat.
“We are going to fully offset the impact of these new duties by increasing our selling prices in the United States from 1 May across all our business lines,” said CFO Eric du Halgouet, speaking on an earnings call.
"Of course, we are cautious about the United States given the discussions, the geopolitical uncertainty which, as you know, have caused a great deal of volatility on the financial markets."
Sales at the Birkin bag maker grew 7% on a constant currency basis in the first quarter of 2025.
Revenue reached €4.1bn across the group with growth in all regions, including Asia, despite a widespread downturn in spending in China that has hit many brands.
Sales grew 11% in the Americas in the three months to March following an “exceptional performance” in the fourth quarter of 2024, “supported in particular by the solid momentum in the United States in March”.
Axel Dumas, Executive Chairman of Hermès, said: “In a complex geopolitical and economic context, the house is strengthening its fundamentals more than ever: uncompromising quality, creativity at the heart of all development and vertical integration, a guarantee of preserving unique savoir-faire.
“Despite a high comparison basis in the first quarter, the group achieved solid growth in sales, thanks to the trust of its customers and the commitment of the teams, whom I thank warmly.”
This week, LVMH said it may also consider price rises in response to tariffs.
The luxury giant’s CFO Cécile Cabanis said on its first quarter earnings call that price changes are “a lever we are going to consider” but that this would be determined for each brand rather than a one-size-fits-all approach.
The Sephora and Guerlain owner reported a lacklustre start to the year with sales down 3% due to a downturn in beauty product sales in the US and lingering challenges in China.
Shares in the company plunged 7% which saw Hermès overtake LVMH as the world’s most valuable luxury company.
Brands have already brought in price rises, or plan to in future, to deal with the extra costs that now come from importing goods into the US.
Foreo responded to “aggressive” tariff hikes by announcing price increases in the US and will start charging shoppers between 20% and 30% more from 22 April.
The Swedish brand, which makes devices like the Luna silicon cleansing brush in China, said that it will absorb some – but not all – of the costs.
Technology produced in China is subject to extra import tariffs of 125%, on top of existing ones.
Foreo said the total tariff impact on its products will range between 137% and 151%.
Givauden, the Swiss flavour and fragrance business, said that due to higher input costs this year, including tariffs, it is “implementing price increases”.
Other brands have chosen to implement a charge signalling to shoppers why they are paying more.
Dame, a US sexual wellness brand, has added a US$5 ‘Trump tariff surcharge’ to all its orders.
Beauty wellness company Jolie which makes showerheads designed to improve skin and hair has added a ‘Trump Liberation Tariff’ at its online checkout.
Meanwhile, Amorepacific is accelerating its plans for manufacturing products in the US in light of the tariffs.
The Korean cosmetics maker’s CEO Seunghwan Kim said in an interview with Bloomberg TV that it would need to step up plans for US production facilities over the next five-to-ten years.
The CosRX and Laneige owner produces the majority of its products in South Korea and China.
Korea overtook France to become the biggest beauty exporter to the US last year, according to the US International Trade Commission.