The economy is struggling, and people are penny-pinching, but that has does not seem to deter Hermes from raising their prices. Citing the high cost of raw-materials like silk, cashmere, and crocodile skin, the ridiculously expensive French luxury brand will proceed with the increases in early February. Anyone remotely interested in fashion knows Hermes’ Birkins & Kellys bags, accessories, scarves, and shoes demand a huge price. With this price hike, there will be an approximate 9% increase. However, US residents should count their lucky stars as the price hikes have already been incorporated in Europe and Asia.