Louis Vuitton Hikes Up Prices on Iconic Bags
Louis Vuitton, which last month raised prices by 12% in Japan, has imposed similar increases on non-leather handbags in most of its main markets.
Louis Vuitton, which last month raised prices byĀ 12 percent inĀ Japan, has imposed similar increases on non-leather handbags in most of its main markets since the start of the year, according toĀ Bloomberg.
LV lifted prices on bags such as the Speedy and NeverFull by about 10 percent in the euro region,Ā Antoine Belge, an HSBC analyst, said today in a note to clients.
Vuitton raised prices by at least 10 percent in the U.K. and U.S., and by 5 percent to 10 percent in Asian markets including China, Hong Kong,Ā TaiwanĀ and Singapore, the analyst wrote.
Vuittonās price increase in Japan, the biggest ever by the brand in the country, was taken to offset the impact of the yenās slide on sales, the company said Feb. 20.
In addition to protecting margins, the āprice increases must be seen, in our view, as a means to accelerate LVās repositioning towards more leather,ā Belge wrote. The decision will probably weigh on the number of items sold, though itās āthe right thing for brand equity longer term.ā