Hermes to raise prices on its luxury goods
October 20, 2022
Hermes is taking up prices across its brands by five to 10 percent in January. That means that a Birkin bag, which currently costs about $7,200 will rise to about $8,000 next year. The company isn’t expecting pushback from its customers. Hermes plans to add 800 workers to its payroll in the second half of the year, a similar number to the first six months. “For the time being, we have no signs of slowdown in any of our markets,” said CFO Eric du Halgouet.
Recent News
FAA Launches New Boeing Probe, 787 Dreamliners Under Fire
Beleaguered Boeing continues to face federal woes, this time for its 787 Dreamliners.
Emotion Emerges as a Key Brand Value Measure in 2024
In 2024, CMOs are making measurable brand value their top priority, with emotion taking on a significant role in this assessment.
Hy-Vee Recalls Cream Cheese, Cookies & Cream for Salmonella Outbreak
Hy-Vee has issued a voluntary recall of two products due to a potential Salmonella outbreak.
European Commission Readies All Trade Tools Against China
European Commission President Ursula von der Leyen emphasized the EU’s readiness to utilize all available trade tools to safeguard its economies amidst concerns over China’s market practices.