The beloved top fashion brand Louis Vuitton announced that it will be raising prices globally this week in response to increased manufacturing costs and global inflation, reports Reuters.
In a statement to Reuters, Louis Vuitton said, “The price adjustment takes into account changes in production costs, raw materials, transportation as well as inflation.”
The price increases will affect Louis Vuitton stores worldwide and cover leather goods, fashion accessories, and perfumes, a spokesperson for Louis Vuitton in China told Reuters.
With no clear indication on the scale of the rises, the publication pointed to a number of influencers who claim some LV handbags — such as the $7,323 Capucines and $1,890 Neverfull — will now be 20 percent more expensive.
In the same move, French luxury competitors including Hermès and Chanel raised their prices since the start of the pandemic to protect margins against inflation.
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