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Hermes Price Hikes Coming Your Way

HermesIf you're in the market for an Hermes handbag, scarf, or pair of shoes, you'd be better off saving a dime and buying as soon as possible, before the luxury brand raises its prices.

A 9% price hike is coming to Hermes goods within the next two to three weeks. Mizhattan reports that Madison Avenue boutique staffers say costs will go up in early February, but employees at the company's Wall Street store are expecting the price increase to arrive as early as January 24.

Last November, Hermes CEO Patrick Thomas told BusinessWeek that the upcoming hikes are largely due to price increases of luxe materials like cashmere, silk, and crocodile skin.

Maybe this is insensitive to Hermes shoppers and their giant bank accounts, but I'll be furious if I hear a single person complaining about the price hikes: if you're already handing over your credit card for an Hermes item marked at four or five figures, that extra few hundred bucks shouldn't clean out your checking account or max out your credit limit.

Image via TheTrendCatcher

[Mizhattan via Racked]