Hermès plans to raise prices in the US to offset the effect on tariffs.
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Hermès said on an analyst call on Thursday that it will raise prices in the US.
The price hikes are because of Trump's tariffs, which the brand said haven't yet affected them.
The Birkin bag, a staple for Hermès, already retails for more than $10,000.
Luxury retailer Hermès announced on Thursday that it's raising prices in the US to offset the effect of President Donald Trump's tariffs.
Eric du Halgouët, executive vice president of finance at the company, told analysts on call that Hermès hadn't yet been impacted by the tariffs, but it was going to raise US prices in May to brace for how the taxes could impact growth.
"The price increase that we're going to implement will be just for the US. Since it's aimed at offsetting the increase in tariffs, that only applies to the American market," du Halgouët said on the call.
du Halgouët said the company has plans to hire an additional 1,000 to 1,500 people, but it will remain cautious about the impact of "geopolitical changes" on financial markets. He also said Hermès raised prices across the US and Europe by 6% at the beginning of 2025.
Hermès caters to the uber-wealthy — even the cheapest versions of its trademark Birkin bags currently cost more than $10,000. It has maintained strong growth amid a challenging environment for the luxury sector, and recently surpassed rival LVMH as the most valuable luxury company.
The French company reported a slow down in first-quarter sales — it grew by 7.2% compared to 18% in the prior quarter. It reported first quarter revenue of €4.1 billion and growth in all geographical areas, according to a press release.
Hermès got caught up in a TikTok fueled controversy earlier this month, when a user posted a now-deleted video claiming that 80% of luxury bags are made in China.
The company doesn't manufacture bags in China and most of its production takes place in France, according to its website. Since Trump issued a 90-day pause on reciprocal tariffs, France is facing a blanket 10% tax.
Representatives for Hermès did not respond to Business Insider's request for comment.
Federal employees face a new challenge: their wardrobes.
sot/Getty, Tyler Le/BI
For federal employees preparing to return to the office full time, dressing right may be hard.
BI spoke to stylists and federal workers, one of whom described the vibe as "funeral director chic."
The stylists suggested a few simple suits, understated accessories, and ditching the stilettos.
Faced with President Trump's recent return-to-office mandate, many government employees across the country once again need to figure out how to dress for five days a week at their desks.
The RTO mandates come among a surge of other private and public organizations ordering people back to the workplace, but federal fashion has been known for being more conservative than typical workwear.
Business Insider spoke with three personal stylists who said that government workers have limited office options compared to other employees across corporate America. Here are their tips for looking the part.
Federal workwear can resemble 'funeral director chic'
"There is almost zero latitude for personal style in federal government jobs. I think this is where sort of DC gets its reputation for being really boring sartorially," Kate Breen, a DC-based personal stylist who founded GetDressedGo and has worked with federal employees, told BI.
A civil servant at a foreign affairs agency, who did not want to be named because she isn't granted permission to speak by her agency, described the style as "funeral director chic." She has worked largely remotely since the pandemic and BI has verified her identity.
This era of remote work has transformed the way many employees approach dressing for their jobs. Reginald Ferguson, a stylist and the founder of New York Fashion Geek, said hoodies have become just as acceptable as blouses and collared shirts.
However, Ferguson said, "You're not going to see jeans and hoodies" at a government office.
"It's certainly not about originality," he told BI.
Breen said she sometimes sees entire crosswalks full of identically dressed people in DC, especially men.
An August report from the Office of Management and Budget said that 54% of the nation's 2.28 million civil servants worked fully in person, and only 10% were remote as of May.
Even for those accustomed to going into the office, Trump's recent mandates pertaining to the federal workforce, along with his cost-cutting plans as part of the new Department of Government Efficiency, have caused anxiety for workers. One said it's showing up in how people dress.
A federal contractor for a Washington, DC, agency told BI, "People are dressed up. They had nice clothes on. I said, 'Wow!' Because people are worried." One of her colleagues used to wear "a Mr. Rogers sweater" but has started wearing a tie, she said. She didn't want to be named as she's not authorized to speak openly about her role at a government agency; BI has verified her identity.
For government employees that aren't based in the capital, the dress code is business casual but still more conservative than corporate jobs, Jorian Palos, a California-based Department of Public Social Services worker, said. The 24-year-old said that her older coworkers tend to dress more formally, but she sticks to a more relaxed style for her in-person workweek.
Whether they're going back to the office for the first time in years or adjusting to new vibes, it's time for federal employees to beef up their closets with more business-casual options.
Workers should take stock of their existing closet
"Anyone returning back to the office should review their wardrobe and remember that they are no longer dressing for a Zoom," Ferguson said.
Breen suggested that government employees try on all of their clothing and get rid of anything that's in poor condition or doesn't fit, physically or emotionally. She and Ting Lin, another DC-area stylist, advise employees to invest in one or two well-tailored, dark-colored suits.
"The great thing about suits is that they're not remarkable, so wearing the same or alternating them every other day — people don't really notice," Breen told BI.
Lin and Breen said that understated accessories and jewelry can bring personality to an otherwise simple outfit. For younger employees, in particular, Breen said that good-quality shoes and bags can help them stand out and signal professionalism.
The DC-area stylists told BI that comfortable shoes are key. Lin said she doesn't see as many federal employees wearing stilettos to the office anymore, opting instead for a chunky heel or loafer.
"My tolerance for high heels is out the window," the employee at the foreign affairs agency told BI. "In terms of heels — low heels, I'm probably only wearing those to specific events or meetings."
Michelle Obama nailed the look
When asked if anyone exemplified ideal federal workwear, Lin and Breen had the same answer: Michelle Obama. The former first lady, they said, mastered mixing conservative clothing with identifiable personal style. Breen said Obama dressed in a way both "appealing and accessible" and recalled when she paired J.Crew gloves with a designer gown at an inauguration parade.
"A lot of my clients reference her regardless of their political affiliation because she did such a great job not completely capitulating to the DC über-conservative expectations and showing her real personality," she told BI.
Tim Paradis contributed to the reporting of this story.