Did High Exchange Rates Affect It? Louis Vuitton Suddenly Raises Handbag Prices by Over 3%

Louis Vuitton Artycapucine Bag. (Photo by Louis Vuitton)

[Asia Economy Reporter Jeon Jinyoung] French luxury brand Louis Vuitton implemented a price increase on the 27th. This is the first price hike in about eight months since February. The rise in raw material costs and high exchange rate issues appear to have influenced the price increase.

According to industry sources, Louis Vuitton raised prices starting from this day, with an increase of around 3%. Upon the news, there were urgent orders placed on the official website, especially within luxury communities, to purchase items at pre-increase prices.

The ‘Alma BB,’ one of Louis Vuitton’s representative products, rose from 2.18 million KRW to 2.25 million KRW, a 3.2% increase, and the ‘Sac Plat BB’ went from 2.93 million KRW to 3.02 million KRW, up 3.1%. The ‘My Lockme Chain Pochette,’ popular among celebrities, also increased by about 3%, from 2.34 million KRW to 2.41 million KRW. Not only handbags but also wallets and scarves saw price increases of about 10,000 to 30,000 KRW.

This price hike seems to have been influenced by rising international raw material prices and exchange rates amid high inflation. In fact, TAG Heuer, which also raised prices in mid-month, cited the high exchange rate as the reason for its increase.

This content was produced with the assistance of AI translation services.