Paris, January 19, 2026, 21:26 CET — The market has closed.
Hermès International shares dropped 3.52% on Monday, closing at 2,113 euros. The sell-off hit European luxury stocks amid revived U.S. tariff concerns. Hermès trades in Paris under the ticker RMS.
The broader market shifted into a defensive mood. European shares suffered their sharpest one-day drop in two months, with luxury stocks taking a particularly hard hit. The euro zone volatility index, which measures expected price swings, surged to its highest level since November. “Trump’s actions … reintroducing trade uncertainty,” said Kyle Rodda, senior financial market analyst at Capital.com. Reuters
The key now is whether the tariff threat turns into actual policy—and how fast Europe responds. Trump announced plans to slap an extra 10% tariff starting Feb. 1 on imports from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Britain, Reuters reported. If no Greenland deal is reached, that rate would jump to 25% on June 1. U.S. cash markets were closed Monday for Martin Luther King Jr. Day. “It’s highly likely that the White House will use the threat of tariffs consistently,” said George Lagarias, chief economist at Forvis Mazars. Reuters
Hermès fluctuated from 2,105 euros up to 2,148 euros during the day, following a previous close of 2,190 euros, data showed.
Paris wasn’t the only market facing selling pressure. LVMH dropped roughly 4%, and Kering slipped nearly 2.8% early on. Richemont and Swatch Group also retreated, as traders mulled over the possibility that increased U.S. tariffs might dampen demand in an important market.
Hermès submitted a correction to its monthly shares and voting rights report, now showing 105,569,412 shares outstanding and 178,517,494 effective voting rights as of December 31, 2025.
Traders will be on alert for spillover effects when U.S. cash equities open Tuesday, closely eyeing any shifts from Davos that might toughen or ease tariff talk. Luxury stocks have quickly turned into a stand-in for the export-growth debate, amplifying moves whenever headlines break.
The key date on the calendar is near. Hermès plans to release its 2025 full-year results on Feb. 12 at 08:00 CET, per its investor calendar. Investors will be watching closely for signs on demand and margins that might rise above the tariff chatter.
The stock still trades inside a broad 52-week range, with estimating the band between about 1,998 euros and 2,957 euros.
The path isn’t set in stone. Should the tariff threat be postponed, softened, or bargained away, the sector might rebound fast. But if it escalates into a tit-for-tat battle, exporters face another slide as earnings outlooks grow murkier.
Paris is closed, so the next major event for Hermès shares comes on Feb. 12. That’s when the company will release its 2025 annual results and address questions about the 2026 outlook.
