French luxury goods brand Hermès is reportedly planning on a price increase on its products starting in January 2012, by about 9%.

The group’s CEO, Patrick Thomas, cited “significant raw-material cost increases, particularly for silk, cashmere and crocodile skin” as the primary reason for the increase. While there are conflicting reports as to when and by how much prices will rise, some boutique reps say the price adjustments of up to 9% on scarves and leathergoods may begin on 24 January, while other sources cite mid-February.

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