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Business in the luxury sector in China<\/strong> is not without its twists and turns. According to Reuters, the LVMH group brand Louis Vuitton is considering raising its prices in China by up to 20%.<\/strong> The price hike is said to be related to the strong recovery in Chinese demand for luxury goods after the easing of restrictions related to the COVID-19 pandemic.<\/strong><\/p>\n <\/p>\n Neither LVMH nor Louis Vuitton have yet confirmed or commented on this information. But last January, executives of the world’s number one luxury goods company had announced “limited price increases<\/strong>, mainly for leather goods, with the aim of reducing price differences between the United States and Europe.”<\/strong><\/em><\/p>\n <\/p>\n Since 2021, several major luxury brands have raised prices<\/strong> due to the dynamic recovery in high-end consumption, driven by consumer savings from confinements.<\/p>\n <\/p>\n <\/p>\n On the online shopping platform Xiaohongshu<\/strong>, also known as Little Red Book or RED, Chinese users expect an 8% to 20% price increase at Louis Vuitton from February 18.<\/strong> According to conversations on social media, lines have already formed outside Shanghai<\/strong> stores as shoppers seek to make purchases before the price hike.<\/p>\n <\/p>\n Although users’ sources of information were not always specified<\/strong>, even though they often cited fashion brand vendors, their predictions of price hikes often proved accurate.<\/strong><\/p>\n <\/p>\n In France, Louis Vuitton has already raised its prices by 3% to 7%<\/strong> this month, according to PurseBop<\/strong>, a website that tracks the luxury market. One of its most popular bags, the Neverfull<\/strong>, sells for a whopping 1,500 euros.<\/strong><\/p>\n <\/p>\n Read also >Pharrell Williams becomes the new artistic director of Louis Vuitton<\/a><\/p>\nInstant reaction<\/h2>\n