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Select Louis Vuitton's bags are getting a makeover, but not the kind of makeover LV fans are going to be thrilled about: The company raised prices on the non-leather versions of iconic styles like the Speedy and the NeverFull tote by at about ten percent in the US and UK, and five to ten percent in Asian markets, according to Bloomberg.
This shouldn't come as a shock to designer handbag enthusiast out there. Bernard Arnault, CEO of LV's owner LVMH, explained back in January that the euro's strength against some currencies would most likely lead LVMH to charge more. Arnault did not mention if the company's other luxury brands like Fendi, Donna Karan, Givenchy, and Kenzo would be affected. But Antoine Belge, the HSBC analyst that revealed the hike, did explain that the "price increases must be seen, in our view, as a means to accelerate LV's repositioning towards more leather."
· Louis Vuitton Raised Most Non-Leather Handbag Prices, HSBC Says [Bloomberg]
· Dots to Blocks: Louis Vuitton Ads Revisit Elementary Concepts [Racked]
· This Louis Vuitton-Themed Bathroom Exists [Racked]