Hermès Starts 2025 Strong, Plans U.S. Price Hike in May to Offset Tariffs

Luxury giant Hermès is riding high into 2025, flexing its strength even amidst global economic unpredictability. The French fashion house clocked in a whopping €4.1 billion in revenue for Q1—up 9% from last year (or 7% if you’re counting without currency drama). That’s not just healthy growth—it actually beat the sales of their own blockbuster Q4 2024, which included holiday shopping mania.

“We hit a record level,” said Hermès CFO Eric Halgouët on a recent analyst call. “And yes, we’ve officially outdone our holiday season. No small feat.”

And the good news doesn’t stop at the numbers. Growth was solid across all regions, with the Americas stealing the spotlight. Sales in the U.S., Canada, Mexico, and even Brazil shot up 13.3%, totaling €695 million. Halgouët said, “It’s been double-digit growth all around.” And that’s despite some wild curveballs from Mother Nature—wildfires in LA and snowstorms in, wait for it… Florida. (Yes, the Sunshine State got snow.)

Now, for U.S. fans of the orange box—brace yourselves. Starting May 1, Hermès is hiking prices across all product categories in the U.S. Why? To counter the 10% import duties recently slapped on by the U.S. government.

“This new price adjustment is currently being finalized,” Halgouët explained, “but the goal is to completely offset the tariff impact.” While he didn’t drop the exact percentage increase, it’s worth noting Hermès already bumped prices globally by 6-7% earlier this year—and usually does just one major hike annually. So this is officially extra.

On April 15, Hermès also hit a major milestone: it leapfrogged LVMH to become France’s most valuable publicly traded company. Not bad for a brand that keeps its mystique by keeping things rare, elegant, and oh-so-expensive.

The takeaway? Hermès is gliding into 2025 with poise, profit, and pricing power. Even a snowstorm in Florida couldn’t chill their stride.