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LVMH's top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20%, as luxury labels bank on a strong rebound of Chinese demand following the easing of COVID-19. The median price for Louis Vuitton products has increased by nearly 4 per cent in China over the last year in local currency terms, according . LVMH's top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20%, as luxury labels bank on a strong rebound of Chinese demand following the easing of COVID-19. The median price for Louis Vuitton products has increased by nearly 4 per cent in China over the last year in local currency terms, according to Deloitte’s BenchMarque tool. The cost of Louis Vuitton’s assortment has also gone up in Japan and the UK, but has been flat in most other major countries.
LVMH shares rose to a record after Chinese shoppers emerged from the world’s strictest lockdowns and splashed out on luxury handbags and jewelry, driving a surge in sales at the Louis Vuitton. Sales in LVMH’s fashion and leather goods division rose 22 per cent in the third quarter to €9.69 billion, the company said on Tuesday, boosted by a return in tourist spending in Europe and early signs of improvement in China as growth slowed in the US. According to Chinese media, models of the Capucines and Neverfull handbags online have risen to RMB 52,000 and RMB 14,400, up 11.8 percent and 20 percent, respectively. Meanwhile, the price of the Mini Pochette Accessoires, nicknamed the “little mahjong bag” in China, has jumped a whopping 54 percent, from RMB 3,500 to RMB 5,400.
BEIJING, Feb 15 (Reuters) - Louis Vuitton, LVMH's top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation costs, a spokesperson. Louis Vuitton is increasing its prices globally on Wednesday as production costs surge, according to a Reuters report. Prices will increase across the French luxury brand’s leather goods, fashion accessories and perfumes, a spokesperson for Louis Vuitton in China told Reuters. Louis Vuitton’s Presence in China. Over time, Louis Vuitton has significantly expanded its presence in China by opening more stores in major cities. The brand strategically raised its prices in the Chinese market as a business tactic to further defy its luxury status.
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But with fewer Chinese people travelling, Burke says they are “buying much more at home” — despite Louis Vuitton raising prices in the country by 3 per cent in March and another 5 per cent in. SHANGHAI - LVMH’s top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20 per cent, as luxury labels bank on a strong rebound of Chinese demand following. LVMH's top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20%, as luxury labels bank on a strong rebound of Chinese demand following the easing of COVID-19.
The median price for Louis Vuitton products has increased by nearly 4 per cent in China over the last year in local currency terms, according to Deloitte’s BenchMarque tool. The cost of Louis Vuitton’s assortment has also gone up in Japan and the UK, but has been flat in most other major countries. LVMH shares rose to a record after Chinese shoppers emerged from the world’s strictest lockdowns and splashed out on luxury handbags and jewelry, driving a surge in sales at the Louis Vuitton.
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Sales in LVMH’s fashion and leather goods division rose 22 per cent in the third quarter to €9.69 billion, the company said on Tuesday, boosted by a return in tourist spending in Europe and early signs of improvement in China as growth slowed in the US. According to Chinese media, models of the Capucines and Neverfull handbags online have risen to RMB 52,000 and RMB 14,400, up 11.8 percent and 20 percent, respectively. Meanwhile, the price of the Mini Pochette Accessoires, nicknamed the “little mahjong bag” in China, has jumped a whopping 54 percent, from RMB 3,500 to RMB 5,400.BEIJING, Feb 15 (Reuters) - Louis Vuitton, LVMH's top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation costs, a spokesperson. Louis Vuitton is increasing its prices globally on Wednesday as production costs surge, according to a Reuters report. Prices will increase across the French luxury brand’s leather goods, fashion accessories and perfumes, a spokesperson for Louis Vuitton in China told Reuters.
Louis Vuitton’s Presence in China. Over time, Louis Vuitton has significantly expanded its presence in China by opening more stores in major cities. The brand strategically raised its prices in the Chinese market as a business tactic to further defy its luxury status. But with fewer Chinese people travelling, Burke says they are “buying much more at home” — despite Louis Vuitton raising prices in the country by 3 per cent in March and another 5 per cent in.
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