US Hermès Price Increase 2024 (2024)

FAQs

Did Hermès have a price increase in 2024? ›

The Hermès Zip Carabine Bag leads the US bag price hike with a 10.20% increase year-over-year. It now retails for $5,400, up from $4,900 in 2023.

Prices for the Birkin 30 in Togo leather increased 7.8% in 2024 to $12.500 at Hermès boutiques in the United States. This is the largest annual increase in 5 years for the Birkin 30. In Europe the price increase is only 5.6% for the Birkin 30, now priced at 9,400 Euro.

Birkin and Kelly bag sales are restricted to just two bags per year per customer. This exclusivity is exactly why Hermes religiously increases its prices every year, especially in the US.

Many factors contribute to the Hermès Birkin Bag price. The most important factor can be explained by the scarcity principle. The economics of supply and demand have driven up Birkin prices for the last 20 years. In some cases a Birkin can sell for multiples of the original retail price.

Hermès imposes a quota system limiting customers to two Birkin or Kelly bags per year, but VIPs may have the option to custom order. Specialized luxury resellers like Madison Avenue Couture offer a curated collection of authentic pre-owned Hermès Birkin bags.

Birkin bags can double in value in 5 years. An Hermès expert explains why it's a better investment than gold. “It's similar to buying a Picasso and holding it in your home, because you can look at it, you can enjoy it,” said James Firestein, founder of OpenLuxury.

How long is the waitlist for a brand-new Birkin? The world of Hermès Birkin bags is a rather mysterious one, so there are no set rules or timelines on how long you'd have to wait to be able to buy one.

Bags with “Kelly” in their name such as the Kelly Pochette and Kelly Cut, Kelly Danse, and the Kelly To Go are treated like quota bags in both leather and exotic skins.

There is no “set amount” that you must spend to be offered a Birkin or Kelly in the US. Also, it is unlikely that an Hermes SA will tell you a specific amount that you must spend.

Of all of the Hermes' bags, the most coveted one is the iconic…. birkin bag. It was actually named after actress, Jane Birkin. The bag comes in many colors, materials, and sizes.

Is Hermès a better investment than gold? ›

An Hermès expert explains why it's a better investment than gold. The value of a Birkin bag skyrockets from the moment it leaves the Hermès store. That's partly because not just any regular person can buy the bag.

Why are Birkin bags so expensive? The exceptional level of craftsmanship in producing the handbag is the rationale for the company's pricing. Each Birkin takes a minimum of 18 hours to make as a single artisan hand-sews, buffs, paints and polishes the bag, according to Sotheby's.

Well, then you've definitely heard of the infamous Kelly bags. This Hermès bag is a customer favourite but can be as tricky to obtain as Birkin bags. However, the Birkin tends to be more elusive because of its iconic status in the fashion world. It's also the price point that makes Hermès bags more attainable.

Only customers with an extensive purchase history at the French brand are offered the opportunity to buy “quota bags” such as the Birkin or the Kelly. This practice, dubbed “the Hermès game,” has kept the bags exclusive—but it's also ruffled many feathers.

Birkin bags can double in value in 5 years — some styles up to $450K — and are a better investment than gold: luxury expert. Hermès' highly coveted Birkin handbag becomes even more coveted after it leaves the store — doubling in value in as little as five years, according to a luxury expert.

What is Hermes International's price target? The average price target for Hermes International is $2,600.97. This is based on 11 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $3,074.64 ,the lowest forecast is $2,305.98.

PARIS, Feb 9 (Reuters) - Hermes (HRMS.PA) , opens new tab said it will further raise prices as its sales outpaced luxury competitors at the end of 2023, helping to lift shares in the Birkin bag maker to a record high.

Thanks to its unique business model, Hermès is pursuing its long-term development strategy based on creativity, maintaining control over know-how and singular communication. For 2024, the theme will be In the Spirit of the Faubourg. This place, the fruit of Émile Hermès' dream, is the beating heart of the house.