Every so often, you will hear rumors about price increases in the high-end fashion industry. All sorts of high-end fashion brands increase their prices from time to time, including Gucci and Versace.
But, one fashion brand that has been the main focus of these rumors recently is Louis Vuitton.
From time to time, Louis Vuitton does increase their prices. After all, their pieces are well-made, and they carry a large name behind them, so these price increases are to be expected. If you are looking to buy something new from Louis Vuitton, then these prices can be a bit of a kick in the teeth.
But, if you are in the luxury community, ultimately price increases are a good thing, and that is because it means that the value of the items is going up.
The latest round of rumors stated that Louis Vuitton was going to increase their prices on October 1st 2021. A lot of people dismissed these rumors, but on this date, the prices of their items did actually go up.
So, let’s take a look at how much some of the most popular items at Louis Vuitton increased on this day.
One of the most popular items at Louis Vuitton is the Speedy 25. So, it is unsurprising that this was one of the items most impacted by the price changes. The Speedy 25 is one of the key items of the permanent collection at Louis Vuitton, and that is part of what makes it so popular.
Of all the items impacted by this price increase, it seems that the Speedy 25 was one of the most harshly effective. But as we have said, this is ultimately a good thing because it means that the value of these bags have gone up. The majority of people who buy Louis Vuitton bags buy them as an investment, so price increases mean that your investment is paying off.
Before the price increases on October 1st 2021, Louis Vuitton Speedy 25 canvas bags retailed for just over a grand at $1,140. But, since the price changes, the cost of these bags has increased significantly. This is because the bag now retails closer to $1,500, with an individual Speedy 25 costing you $1,350.
At first, this price increase might not seem that great. But, when you look at it in percentage terms, the cost of these bags actually increased by 18%. This is pretty hefty compared to the usual price increases that Louis Vuitton have made in the past.
It seems that no bag was spared in these price increases. All the fan favorites at Louis Vuitton incurred large price increases, and most of them have increased in price by between 11 and 18%, so these price increases definitely aren’t minor.
The only item of the permanent collection that hasn’t been affected by these price increases is the Petite Male, which is still listed at $5,500 on the Louis Vuitton website.
The same price as it was before the price increased on October 1st. Of course, this bag was already priced pretty high, and perhaps this is the reason it managed to avoid the latest round of price changes.
Some of the most affected items by the price increases at Louis Vuitton have always been their Pochette Accessoires. These are some of the most popular items from Louis Vuitton so, again, the price changes make sense.
But, this doesn’t make it any baffling that just 2 years ago, you could buy a Louis Vuitton Pochette Accessoires for half the price that it now costs since the October 1st price increases.
Back in 2019, a Louis Vuitton Pochette Acessoires sold for a grand retail price of $525. Jump forward to October 1st 2021, and these bags now cost $1,050. Of course, this price increase did not happen all at once, if it had, this likely would have caused alarm for the loyal customers at Louis Vuitton.
But, a series of small price increases over the past 2 years has ultimately led to a whopping 50% increase in price for the Louis Vuitton Pochette Accessoires.
These price increases have totally transformed the Pochette Accessoires. These were once one of the more affordable pieces at Louis Vuitton, and because of this, a lot of people bought these as entry-level items to the world of luxury fashion.
But, the price changes have also changed the way that the Pochette Accessoires are viewed. These are no longer a product for new fans, instead they are one that only loyal Louis Vuitton customers purchase.
The smaller versions of the Pochette Accessoires have also been impacted by these price increases. The Mini Pochette has increased significantly in price since its early retail prices, but these increases have not been as great as the increases of the Pochette Accessoires.
This more affordable item has increased a whopping 21% since its last retail price, now costing a hefty $540. Initially, this seems like a low price point, but when you see the size of this purse, you will understand why this is one of the price increases that have upset loyal customers the most.
1st October 2021 Price Increases
Here are some examples of the price increases that have affected some of the most popular items at Louis Vuitton.
|Item Name||Original Price||New Price||% Increase|
The table above outlines just some of the price increases that have affected Louis Vuitton’s most popular products. This is just a handful of the items affected, and in reality there are closer to 20 items impacted by the 1st October 2021 price increases. Ultimately, these price increases are a good thing because it means that the value of these items has increased. But, if you had your eye on a new bag at Louis Vuitton, these price increases can be a little frustrating.
In this guide, we have taken a look at the impact that the 1st of October 2021 price increases at Louis Vuitton had on some of their most popular products. As an investor, these price increases are great because it means that the value of these products have increased significantly. Louis Vuitton regularly increases the price of their products, so it likely won’t be long until the retail prices of these items change again.