Read also: US Hermès Price Increase 2024
Just as surely as 2024 begins when the clock strikes midnight on January 1, so are there Hermès 2024 price increases in Europe. And it’s the second year in a row of larger than expected hikes.
Traditionally, the heritage orange brand raises EU prices 1-4% or so in the early days (or weeks) of the new year, usually followed later by comparable hikes elsewhere in the world. And there was no reason to believe 2024 would be any different, even though, as discussed below, the 2023 price increases were far more substantial.
However, as the new prices roll out, it is clear that the 2024 EU price hikes are larger than hoped and expected. For popular styles, the increases seem to range from just under 7% – for the Mini Kelly in Epsom and Birkin 25 in Togo – to 13% for the K25 Retourne in Togo.
Image courtesy @lenaterlutter
As a point of reference and reminder, in 2023, Hermès’ prices in Europe shot up overall 8 – 21%. This was the greatest increase in years. The most significant hikes were for exotic leathers such as alligator, crocodile, and lizard. Additionally, the iconic heritage Box calfskin leather experienced a significant price surge of up to 19%.
Image courtesy @mrandmrsj
In July 2023, at the investor call discussing first half 2023 results, Hermès CEO Axel Dumas suggested that future price increases would be based on cost of production and “not the desirability of product.”
Image courtesy @hoskelsa
In other words, in 2024 Hermès wouldn’t be increasing prices simply because it could – because demand and supply remain mismatched. This sentiment and strategy was a repeat of 2022. At that time, Dumas said there was no strategy to significantly raise prices even though 2021 results were disappointing due to lack of product. He told CNBC: “There is no strategy at all to create growth through unnecessary price increases.” In particular he pointed to artisan wage hikes. And, as predicted, 2022 price increases were in the range of 2-5% due to production costs and currency fluctuations.
The price increases in 2023, on the other hand, were more substantial. And Hermès had warned in mid 2022 that would be the case. Despite a jump in 2022 Q3 revenues, Hermès told investors to expect 2023 hikes in the 5-10% range. And, for the most part, they were. In Europe, the 2023 spike in prices was in the 8-10% range over 2022 for handbags.
For 2024, however, the prices hikes are greater than most expected. Again, in July 2023, Dumas pointedly said that the main driver of price for Hermès products is the cost of production and “not the desirability of product.” That suggested that Hermès would not be hiking prices of its most popular items beyond what accounts for increases in labor and materials. Are those production costs up 7-12% (or more)? We don’t know. Inflation in Europe right now is at about 3%, coming down from 11% in late 2022. So, these price spikes could be playing catch up. It’s just not clear.
What is clear is that your favorite bags are going to take a bigger bite out of your bank accounts. That is, if you can get them.
| Style | Leather | 2023 (€) | 2024(€) | % Increase |
| Mini Kelly 20 | Epsom | €6,700 | €7,150 | 6.7% |
| Chevre | €7,250 | €7,700 | 6.2% | |
| Box | €9,250 | €9,850 | 6.5% | |
| Box Studded | €18,000 | €19,600 | 8.8% | |
| Touch Lizard | €8,200 | |||
| Lizard | €13,800 | €16,200 | 14.8% | |
| Ombre Lizard | €16,000 | |||
| Touch Croc | €10,400 | |||
| Ostrich | €12,500 | €13,500 | 8% | |
| Picnic | €12,200 | €13,500 | 10.7% | |
| Teddy | €13,900 | |||
| Matte Gator | €26,200 | €27,900 | 6.4% | |
| Gator Satin Boreal | €28,800 | |||
| Kelly 25 | Epsom Sellier | €8,650 | €9,500 | 9.8% |
| Togo Retourne | €8,050 | €9,100 | 13% | |
| Swift | €8,400 | €9,000 | 7% | |
| Chevre Sellier | €9,250 | €9,600 | 3.7% | |
| Box | €12,400 | |||
| Retourne Matte Gator | €34,800 | |||
| Sellier Matte Gator | €51,000 | |||
| Sellier Shiny Croc | €42,400 | |||
| Kelly 28 | Epsom Sellier | €9,100 | €10,300 | 8.4% |
| Togo Retourne | €8,650 | €9,600 | 10.9% | |
| Kelly 32 | Epsom Sellier | €9,850 | €10,700 | 8.6% |
| Togo Retourne | €9,200 | €10,000 | 8.6% | |
| Kelly Pochette | Matte Gator | €24,500 | ||
| Swift | €4,900 | €5,200 | 6.1% | |
| Kelly Danse Anate | Swift | €9,800 | €9,800 | |
| Kelly Danse | Ombré Lizard | €15,200 | €16,200 | 6.6% |
| Kelly 20 en Desordre | Sellier | €10,500 | €11,400 | 8.5% |
| Kelly Picto Doll Quelle Idole | Epsom | €12,300 | €13,400 | 8.9% |
| Kelly Elan Chevre | Feathers | €11,800 | €12,900 | 9.3% |
| Kelly Elan Shiny Croc | Feathers | €36,600 | €39,900 | 9% |
| Birkin 20 | Lizard | €16,200 | ||
| Birkin 25 | Togo | €8,050 | €8,600 | 6.8% |
| Sellier Epsom | €8,650 | €9,000 | 4% | |
| Barenia Faubourg | €9,640 | |||
| Sellier Box | €11,900 | |||
| Lizard | €15,100 | €16,700 | 10.5% | |
| Ostrich | €15,650 | €16,700 | 6.7% | |
| Shadow | €10,100 | |||
| Matte Gator | €39,000 | €42,100 | 7.9% | |
| Birkin 30 | Togo | €8,900 | €9,400 | 5.6% |
| Epsom | €8,750 | €9,250 | 5.7% | |
| Barenia Faubourg | €9,800 | €10,400 | 6.1% | |
| Birkin 35 | Togo | €9,850 | €10,200 | 3.5% |
| Epsom | €9,850 |
Here are the prices for other Hermès bags:
| Style | Leather | 2023 (€) | 2024 (€) | % Increase |
| Constance 18 | Epsom | €6,700 | €6,950 | 3.7% |
| Chèvre | €7,600 | €8,000 | 5.2% | |
| Swift with Mirror | €7,250 | €7,550 | 4.1% | |
| Shiny Croc | €27,000 | |||
| Matte Gator with Mirror | €26,200 | €27,000 | 3% | |
| Studded | €20,000 | €21,800 | 9% | |
| Ombré Lizard | €17,700 | |||
| Constance 24 | Epsom | €7,600 | ||
| Mini Lindy | Clemence | €5,100 | €5,500 | 7.8% |
| Mini Jypsiere | Swift | €5,500 | €6,000 | 9% |
| Picotin Micro | Ostrich | €6,450 | €7,350 | 14% |
| Picotin Micro Daisy | Swift | €2,550 | ||
| Picotin 18 | Clemence | €2,380 | €2,490 | 4.6% |
| Picotin 22 | Clemence | €2,550 | €2,700 | 5.8% |
| Cabas 40 | Canvas/Swift | €2,750 | €2,950 | 7.2% |
| Evelyne 16 | Clemence | €1,570 | €1,660 | 5.7% |
| Evelyne 29 | Clemence | €2,800 | €2,900 | 3.5% |
| Garden Party 30 | Negonda | €2,900 | €3,100 | 6.8% |
| Bolide 1923- 25 | Epsom | €5,300 | €5,600 | 5.6% |
| Herbag Zip 31 | Retourne | €2,170 | €2,600 | 19.8% |
| Herbag Zip 31 | "Circuit 24" | €2,750 | €2,950 | 7.3% |
| 24/24 - 29 | Canvas strap Barenia | €9,050 | ||
| Geta | Chevre | €4,550 | €4,850 | 6.2% |
| Maximors | Swift | €4,900 | €5,200 | 6.1% |
| In The Loop | €3,650 |
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Updated: March 10th, 2024
Comments
4 Responses to “New Confirmed Hermès Prices in Europe 2024”
Just purchased a Birkin Sellier 30 in box leather, black with gold hardware in Paris. €13,500.00
Hello from Portugal,
Do you know the new price for the In-the-loop 23 in Euros?
Thank you.
Ich habe in Deutschland am 12.01. eine Kelly 28, sellier Epsom für 9.500 € gekauft
Ich habe in Deutschland am 12.01. eine Kelly 28, sellier Epsom für 9.500 € gekauft