Birkin bag maker Hermes said it would likely hike prices by 5% to 10% in 2023, much more than in the past, after reporting a sharp rise in sales growth over the third quarter and seeing no signs of slowdown in any of its markets.
Echoing upbeat comments earlier this month by rival Louis Vuitton owner LVMH, Hermes brushed off concerns that the industry's post-pandemic boom could be cooling due to a looming recession, as US shoppers took advantage of the dollar's strength in Europe and China rebounded sharply, Reuters reported.
