Reportedly due to increased raw-material costs, haute fashion house Hermés will soon be increasing the price tags on their luxury items.

Despite conflicting reports about when exactly the price hike will take place (some say end of January, others say early February), one thing is clear, if you’re planning on purchasing one of the luxurious items Hermés has to offer, you should plan to spend around 9% more than before.

The French luxury company will either increase prices all at once or, as some are guessing, implement a more gradual price hike. Regardless of how it happens, it’s happening, and by mid-February shoppers should be aware that the costs may be higher than anticipated.

Patrick Thomas, CEO of Hermés, said that the fashion house “may raise prices at a reasonable level in 2012 due to significant raw-material cost increases, particularly for silk, cashmere and crocodile skin.”

The price increases for Hermés have already taken effect in Europe and parts of Asia.

Source: Mizhattan