We have all been hoping that it is a speculation, especially in these hard times, but it is true – Louis Vuitton prices have gone up again. On May, 5 Louis Vuitton avid fans noticed that the prices for all Louis Vuitton items increased on the US website. And what is more - this time the increase ratio is higher than the usual.
It is already the fourth increase since October with one before the quarantine and one as the States slowly come out. And most of the brand’s fans are not happy with the frequency and the volume of increases. Moreover, with the Covid-19 pandemic all over the world, the customers believe that Louis Vuitton should lower the prices instead of raising them. There are about 30 million people in the US who are on unemployment right now because of the pandemic, a lot of people in the world have not worked for a couple of months but yet they still want to increase prices. And Louis Vuitton’s bread and butter are not ultrarich who can go to a store and buy multiple LV bags at once but those who save up and buy maybe one or two bags a year.
Many brand fans report that after such a move Louis Vuitton lost a long-term loyal customer with them. They consider the new prices crazy and are thinking about turning their attention to the pre-loved market where the cost of a designer bag is much more reasonable. Others add that on top of that Louis Vuitton’s quality has gotten bad lately – there have been a lot of returns because of the poor quality of the items. They started asking themselves if they should continue with their Louis Vuitton collection or to try to branch out more with Chanel and Hermes – quality over quantity.
Nevertheless, the ongoing rumors about the price increase pushed many LV fans to pull the trigger and purchase the items they had been putting off buying for this or that reason. Just what the brand wants.
Reactions to the Price Increase
There are also those who do not understand the whole outrage about the price increase as Louis Vuitton is not an essential supply, it is a luxury item. Buying LV is an experience, collecting is a lifestyle. They accept the difference and understand that the fashion house will do as they wish with their prices for whatever reason they fancy and a lot of people will still buy.
And on the flip side, Louis Vuitton is probably selling less during the pandemic, with the physical stores closed and the consumer purchasing power being low, but the brand still has to pay its workers and their insurance and other costs. Less sales means that you need to raise prices to keep that same money coming in to keep the workers. Otherwise, they will lay the workers off.
Whatever side you are on, the reality is here – Louis Vuitton had another price increase, here are the new prices compared to old.
How Much Are the Most Popular Louis Vuitton Handbags Now? (May 2020)
We've selected a few popular items to research the price increase. Here they are.
|
$2,060 |
$2,170 |
5% |
|
|
Neverfull GM |
$1,510 |
$1,580 |
4.5% |
|
Pochette Metis Monogram |
$1,890 |
$1,980 |
5% |
|
Speedy Bandouliere 30 |
$1,560 |
$1,640 |
5% |
|
Speedy BB |
$2,760 |
$2,900 |
5% |
|
Escale Speedy |
$2,220 |
$2,340 |
5% |
|
Noe BB |
$1,270 |
$1,340 |
5.5% |
|
Petit Noe |
$1,290 |
$1,400 |
8.5% |
|
Multi Pochette Accessories |
$1,640 |
$1,860 |
13% |
|
Pochette Accessories |
$540 |
$630 |
17% |
|
Mini Pochette Accessories |
$350 |
$365 |
4% |
|
$1,360 |
$1,430 |
5% |
|
|
Toiletry Pouch 26 |
$460 |
$520 |
13% |
|
Palm Springs Mini Reverse Monogram |
$2,030 |
$2,140 |
5% |
|
Micro wallet |
$465 |
$500 |
7.5% |
|
Key pouch |
$210 |
$215 |
2% |
|
Rosalie coin purse |
$385 |
$400 |
4% |
Depending on the item, the price increase was from 2% to as much as 13%. For most items, it was around 5-6%. With Louis Vuitton prices, that means an average increase of $50-$100 per handbag.
What Does this Price Increase Mean?
With regular price increases, more and more people feel that buying preloved is a great alternative.
You can purchase a lot of beautiful preloved Louis Vuitton handbags at Bagaholic - just check out our selection.
Tell Us More!
Has the price for the item you're eyeing gone up? Tell us what you feel in the comment section.
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