For the luxury handbag devotee, the new year brings not just resolutions, but a familiar sting: the annual Hermès price increase. 2024 is no different, with the French Maison upping the ante on its coveted leather goods, leaving some loyal fans feeling a touch…squeezed. This article will show the price increase for the US and Europe.
Europe Feels the Pinch:
Across the pond, European Hermès enthusiasts are facing the brunt of the increase, with an average jump of 7.94% across bag styles. Popular picks like the Mini Kelly in Epsom and Birkin 25 in Togo saw a 7% bump, while the K25 Retourne in Togo took a staggering 13% hit. This follows a record-breaking 2023, where European Hermès prices surged 8-21%.
Increased Hermès Prices 2024 in Europe
Increased Hermès Prices 2024 in UK
Stateside Sighs of Relief (Sort Of):
In the US, the increases were slightly less dramatic, averaging around 5%. A Birkin 30 in Clemence now sets American aficionados back a cool $10,800, up from $10,300, while a Kelly 28 in Box Calf will cost you $9,350, compared to $9,000 in 2023. While a smaller jump than Europe, it’s still enough to make you wince when gazing longingly at that Birkin in the window.
Why the Hike?
Hermès cites rising production costs, particularly for raw materials like leather, as the reason for the price adjustments. Additionally, the brand faces ever-increasing demand, especially in Asia, which puts further pressure on their precious Birkins and Kellys.
Worth the Splurge?
For some, the price increases are simply a part of the Hermès allure. These bags are not just fashion statements, they’re investments, often appreciating in value over time. For others, the ever-climbing price tag may be a sign to seek solace in pre-owned Hermès or explore other luxury brands with slightly gentler price points.
The Takeaway:
The 2024 Hermès price increase underscores the ever-growing value proposition of these coveted bags. Whether you’re a die-hard Hermès fan or a curious observer, it’s a fascinating glimpse into the world of luxury and the unwavering desire for that perfect piece.
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