JM, this is an old thread I posted that has a ton of helpful information:
http://forum.purseblog.com/hermes/hermes-in-paris-and-barcelona-import-taxes-40481.html
In order to get your VAT back, you need not only the paperwork Hermes gives you but also the
physical bag at hand to get your receipt stamped, so basically, all of this needs to happen before she checks in her luggage before going home. It is good idea to put everything purchased in one suitcase so you can easily retrieve items as requested.
It was a total pain as we had purchased quite a bit, but at Heathrow we had to show them every item before they stamped our receipts and then put them in the mailbox at Heathrow to have them sent out. At some point, I should expect to see the VAT taxes credited back to my CC.
If you have a bag shipped by Hermes, you don't have to deal with VAT (I believe, since the bag is definitely not staying in the country), but you will incur customs charges according to my SA here in the States who had a customer who got charged about $800 for an exotic. I didn't ask for details so I don't know what the percentage was. I declared everything on my forms coming back into the U.S. and was just told to have a nice day. I don't think the guy even looked at my form closely until I had breezed by him. Also, you will be asked at Hermes whether you want to be charged in Euros or in dollars. I think even with the 3% conversion rate the CC charges you, it is still better than the rate offered at Hermes, so go with Euros.