April 2025

The Latest Fashion Trends:

• Despite the increased amount of tariffs (see below) Hermes continues to increase production as it outperforms other luxury brands

The (Fashion?) Economic Report:

• The biggest economic news of the month, and, perhaps, the year so far: Trump’s tariffs

• April 2nd: Two Major Economic Announcements

• 1) A universal 10% tariff on all imports 

• 2) Higher tariffs were to be imposed on countries with the largest trade deficits with the US

• The next day, April 3rd, the US experienced a market meltdown, with the Dow tanking by over 700 points

• Retailers expect for price hikes in the future, with some already raising prices, including luxury brands such as Tiffany and Cartier

• There is global pushback to these changes, with China striking back with $30 billion in tariffs and the EU threatening luxury goods in the US.