If you’ve ever considered buying a Hermès bag, now is the time to invest in this quality brand; luxury Hermès handbags are quickly becoming a rarity. Our sources tell us to expect a Hermès price increase soon, making this a perfect time to invest in a new Hermès bag.
Heftier price tags are now the norm, which applies to Hermès bags, fine jewelry, fashion jewelry, footwear, and more. Customers will notice a significant increase; on average, you should expect to pay roughly 10% more in 2023.
Why the Price Increase?
What is causing this price increase? The French label is responding to global inflation and unexpectedly robust sales after only applying minor increases to Hermès handbag prices during the COVID-19 pandemic.
Rising costs of transport, currency fluctuations, and ongoing cost and logistics challenges with raw materials are just some of the reasons why the luxury brand is increasing its pricing in 2023.
Investing in Artisans & Increased Demand
Inflation has affected most industries, but while it roiled global markets, Hermès saw record sales and earnings in 2022, including a 23% increase, more than double what analysts had expected.
Asia accounted for almost half of the brand’s revenue, but the most significant growth on a percentage basis was in the Americas. Many experts predicted that demand for high-end luxury bags would cool following the pandemic, but this has not been the case.
Hermès has had to invest in hiring more artisans and expanding their workforce to keep up with demand. There are no signs of the Hermès market slowing down, and those interested in investing in Hermès products can expect higher costs throughout 2023.
Here is a breakdown of the new prices you can expect to see in 2023:
| Style | 2022 Price ($) | 2023 Price ($) | Percent Increase |
| Mini Kelly 20 Epsom | $8,250 | $8,700 | 5.50% |
| Mini Kelly 20 Chevre | $8,900 | $9,450 | 6.20% |
| Mini Kelly 20 Matte Gator | $28,500 | $31,500 | 10.50% |
| Kelly 25 Epsom Sellier | $10,600 | $11,300 | 6.60% |
| Kelly 25 Retourne Matte Gator | $36,100 | $42,000 | 16% |
| Kelly 28 Epsom Sellier | $11,200 | $11,800 | 5.30% |
| Kelly 25 Togo Retourne | $9,900 | $10,900 | 10% |
| Kelly 28 Togo Retourne | $10,600 | $11,300 | 6.60% |
| Kelly 32 Togo Retourne | $11,300 | $12,000 | 6.20% |
| Birkin 25 Togo | $10,100 | $10,400 | 3% |
| Birkin 30 Togo | $11,300 | $11,600 | 2.70% |