This news is not new, but I think it’s good to point out. We have seen price increases in Chanel, Hermes and Celine. Starting this year, Louis Vuitton decide to increase prices on non-leather handbags for many markets. The iconic bags like speedy and neverfull prices have jumped nearly 10% in European countries.

According to Belge: ‘the price increase must be seen, in our view, as a means to accelerate LV’s reposition towards more leather’.

And there will also be no mercy for UK and US as prices will also jump by 10 percent. The Asia markets like Hong Kong and Singapore will experience 5 to 10 percent increase.

Last month, LV had announced a raise in price by 12 percent in Japan due to the to the plunge in the yen. Recent years Japanese customers were buying more in foreign countries than domestically, but due to weakening in yen, their buying behavior might reverse.

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