The French luxury company Hermes, known for its Birkin bags and silk scarves, is raising the prices of its products in the USA to counteract the effect of Donald Trump's tariffs.
The price increase will take effect on May 1, according to finance chief Eric Halgouet, who does not want to disclose how much the prices will increase. He states, however, that they will "neutralize" the effect of the tariffs for the company.
Hermes usually raises its prices once a year and has previously announced a price increase of between 6 and 7 percent for 2025.
Earlier in the week, the company surpassed competitor LVMH as the world's highest-valued luxury company.
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