Hermès CEO says hiking prices in Japan by 10 percent

PARIS, France - Hermès hiked the price of its luxury goods in Japan by 10 percent this month to counter the yen's weakness, its chief executive told Reuters on Thursday.

The price increase is the most significant in two years, as Hermes had barely lifted prices in Japan in 2013 even though the euro gained 26 percent against the yen last year.

Hermès CEO Axel Dumas said in an interview that the luxury goods maker was not suffering from China's crackdown on corruption and gift-giving.

"We have not been affected by this movement," Dumas said.

Last year, Hermès' sales in mainland China rose 19 percent at constant currencies, he added.