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Louis Vuitton bags to get even MORE expensive as luxury fashion giant raises prices
Pricey accessories: Louis Vuitton has raised the prices on many of its bestselling items by up to 12per cent pictured is the Speedy handbag (left) and Neverfull tote (right)
According to analysts'
A spokesperson for Louis Vuitton explained to Bloomberg at the time: 'We are an importer, so the weakening yen and rising raw material prices are part of the reason for the price increase.'
Analysts said the higher prices are unlikely to drive away its most loyal customers, who
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Popular picks: Louis Vuitton is a goto brand for the rich and famous Jennifer Love Hewitt (left) and Hilary Duff (right) are fans of the French luxury good company
A retail analyst said:
'[Luxury] brand goods have low price sensitivity. People who buy those brands
won be so frugal as to care about another 10,000 yen.'
'Louis Vuitton employees started discreetly alerting their VIP customers that the powerhouse brand is planning to increase prices starting Monday, February 18th.
'My own source at the flagship boutique informs me that LV lovers should expect to see a 57% hike on almost all items that the French luxury house has to offer.'