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The LVMH-owned Maison Louis Vuitton will raise the prices of its products this week, due to rising manufacturing and transportation costs.
The increases will affect products worldwide including leather goods, accessories and fragrances, making Louis Vuitton one of the first brands to increase prices significantly this year to protect margins in the face of rising costs. No details were given about a percentage of the price increases : this will vary by piece.
“The price adjustment takes into account changes in production costs, raw materials, transportation and inflation,” Louis Vuitton said in a statement to Reuters.
The website that tracks the luxury market PurseBop has estimated a percentage of price increases for Louis Vuitton products, ranging from 4% to 18%. Last January, LVMH‘s majority shareholder and CEO Bernard Arnault said the group had enough room to raise prices in an inflationary environment, but that it had to be “reasonable”.
Louis Vuitton is not the only company to have increased prices for its products, due to rising costs. Indeed, at the beginning of February, Hublot increased the prices of its timepieces following the rise in the cost of raw materials. Chanel had also done the same for its leather goods, in the run-up to the high demand for the Christmas holidays.
Read also > LVMH : HUBLOT INCREASES THE PRICE OF ITS MODELS DUE TO INFLATION
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The LVMH-owned Maison Louis Vuitton will raise the prices of its products this week, due to rising manufacturing and transportation costs.
The increases will affect products worldwide including leather goods, accessories and fragrances, making Louis Vuitton one of the first brands to increase prices significantly this year to protect margins in the face of rising costs. No details were given about a percentage of the price increases : this will vary by piece.
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The LVMH-owned Maison Louis Vuitton will raise the prices of its products this week, due to rising manufacturing and transportation costs.
The increases will affect products worldwide including leather goods, accessories and fragrances, making Louis Vuitton one of the first brands to increase prices significantly this year to protect margins in the face of rising costs. No details were given about a percentage of the price increases : this will vary by piece.
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