Louis Vuitton to hike prices globally on bags, perfumes, and other fashion accessories and leather goods on February 16
- Bloggers on Chinese social media say the price of some models of handbags will rise by 20 per cent or more in China, without citing sources
- Louis Vuitton says the increase takes into account ‘changes in production costs, raw materials, transportation as well as inflation’
Louis Vuitton, the world’s biggest luxury brand, is raising prices globally on February 16 as a result of increased manufacturing and transportation costs, a spokeswoman in China for LVMH, the French luxury goods company that owns the brand, has said.
The price increases will affect Louis Vuitton stores worldwide and cover leather goods, fashion accessories and perfumes, the spokeswoman said on February 15. She did not give further details on the scale of the rises beyond saying that they would vary depending on the product.
“The price adjustment takes into account changes in production costs, raw materials, transportation as well as inflation,” the label said in a statement.
Some bloggers on Chinese social media said the price of some models of handbags such as Capucines and Neverfull, now priced at 46,500 yuan (US$7,300) and 12,000 yuan respectively, would rise by 20 per cent or more in China, without citing sources.