No one is surprised by the rapid changes in the world or the realm of luxury designer goods. So, the news of Louis Vuitton’s price increase fits right in without shock.
Instead, it’s expected at this point.
So, how far has LVMH taken it this time? Is investing in a Louis Vuitton bag still a good idea, or should you go with your money elsewhere?
Latest Louis Vuitton Price Increase
But first off, you can breathe a sigh of relief if you were eyeing a Ready to Wear collection item since those aren’t included in the price increase. The classic Neverfull tote collection is also off-limits for the price hike, as is the Louis Vuitton x Yayoi Kusama collaboration.
- Coussin PM was €3,600 and is now €3,700, with a price increase of 2.7%
- Petite Malle was €4,350 and is now €4,500, with a price increase of 3.4%
- Alma PM was €1,490 and is now €1,550, with a price increase of 4%
- Twist MM was €3,600 and is now €3,700, with a price increase of 4.4%
- Multi Pochette was €1,960 and is now €2,050, with a price increase of 4.6%
- Speedy 25 was €1,130 and is now €1,200, with a price increase of 6.2%
- Capucines BB was €5,150 and is now €5,500 with a price increase of 6.8%
- Pochette Accessoires NM was €980 and is now €1,050, with a price increase of 7%
The current price increases for the European market aim to bring the prices closer to their counterparts in the United States market.
Will Louis Vuitton Prices Increase in 2024?
According to several speculations online, Louis Vuitton prices were expected to increase in August. Various sources have fueled these rumors, primarily on social media platforms.
The price hike was expected to be around 4% worldwide. While Louis Vuitton has neither confirmed nor denied these speculations, such an increase didn’t happen.
However, the fashion powerhouse is no stranger regarding price adjustments. They typically follow a pattern of 2-3 increases annually, with June being the latest. These fluctuations are due to increased production costs and inflation.
When is the Next Louis Vuitton Price Increase?
Given this historical trend, you can expect Louis Vuitton to adjust its prices, probably in August.
As for the percentage, while it varies from one country to another, it might be about 4%-18% based on their past price increase ranges.
Which Louis Vuitton Products Are Affected by the Price Increase?
Although Louis Vuitton has a wide range of products, certain items have consistently seen price increases.
As you might have expected, classic bags with iconic canvas will likely be affected in 2024. These include the Speedy, Speedy B, and Pochette bags.
However, it’s worth mentioning that the exact price adjustment and items will depend on Louis Vuitton’s official announcements.
Let’s take a closer look at some of Louis Vuitton’s popular styles and their expected price range in 2024:
1. Neverfull Collection
| Bag Model | Original Price | Estimated Price in 2024 (4%-18% increase) |
| Neverfull MM | $2,030 | Around $2,100 to $2,395 |
| Neverfull GM | $2,100 | Around $2,185 to $2,480 |
| Neverfull PM | $1,960 | Around $2,040 to $2,320 |
You may be surprised to see the Neverfull collection making this list. After all, rumors had it that this line would be discontinued. However, that’s not true. You can still purchase the luxury tote bags through a waitlist system.
Among the popular models are Neverfull MM, Neverfull GM, and Neverfull PM. Looking through the past trends, you can see that the Neverfull collection had a significant price leap in 2022.
Initially, the Neverfull MM sold for $1,690 in the US. These bags currently cost $2,030. That’s an increase of almost 20%! The other two models also had similar adjustments.
For instance, the GM used to sell for $1,760. Now, it costs $2,100, a 19% increase. The PM is the most affordable, selling for $1,960 from $1,620. That’s about 21% more than the 2021 price.
Interestingly, this collection maintained its original pricing in the UK, with the Neverfull MM selling for 1% less than its 2022 price.
Since these tote bags weren’t included in the June adjustments, they may undergo a price increase in 2024.
2. Speedy
| Bag Model | Current Price | Estimated Price in 2024 (4%-18% increase) |
| Speedy 25 | $1,490 | Around $1,550 to $1,760 |
| Speedy 30 | $1,550 | Around $1,610 to $1,830 |
| Speedy 35 | $1,620 | Around $1,685 to $1,910 |
| Speedy 40 | $1,690 | Around $1,760 to $1,995 |
The Speedy collection remains one of Louis Vuitton’s it-bags. With vintage fashion growing in popularity, you can expect these bags to stay in demand for a while.
This collection contains four purses in sizes ranging from 25 to 40 cm. Thanks to its petite structure, the Speedy 25 is the most affordable bag in this collection.
After a 10% increase, the 25 currently sells for $1,490. The 30 Monogram Canvas sells for $1,550, increasing by around 13% from the 2022 price.
The Speedy 35 currently costs $1,620, a 14% increase. The largest model, the 40, sells for $1,690, around 20% more than the original price.
Following a similar trend, these bags will increase by 4%-6% this year.
3. Speedy Bandouliere
| Bag Model | Current Price | Estimated Price in 2024 (4%-18% increase) |
| Speedy Bandouliere 25 Bag | $1,820 | About $1,890 to $2,150 |
| Speedy Bandouliere 30 Bag | $1,890 | About $1,965 to $2,230 |
| Speedy Bandouliere 35 Bag | $1,960 | About $2,040 to $2,310 |
The Speedy Bandouliere offers the same iconic design as the Speedy but with added detachable straps. It’s a favorite for street-style enthusiasts.
This collection saw a price increase in 2023 in several countries, including Canada and the UK. The Bandouliere 25 currently costs 6.8% more than the original price in Canada. As for the UK, the 25 and 35 had an 8% increase, while the 35 was 9% higher.
The US also had similar ranges. For instance, the 25 bags increased by 7.6%, while the 30 had an 8.6% increase. The Bandouliere 35 costs around 9% more than its original price. However, such changes were in 2022.
Since their prices remained unaffected in 2023, these luxury bags may increase in 2024.
- Pochette Bags
| Bag Model | Current Price | Estimated Price in 2024 (4%-18% increase) |
| Pochette Metis | $2,570 | About $2,670 to $3,030 |
| Pochette Accessoires | $1,290 | About $1,340 to $1,525 |
| Mini Pochette Accessoires | $750 | About $780 to $885 |
Like most Louis Vuitton bags, the Pochette collection prices remained unchanged in 2023 in the USA.
However, they saw an increase in 2022. For instance, the Metis had an 8%, while the Accessories leaped by 22%! The Mini wasn’t behind either, as it saw an increment of almost 38%!
In Canada, the Pochette Metis’ prices increased by 6.1%, going from CAD 3250 to CAD 3450 in 2023. The accessories currently cost 7.3% more than their initial price, selling for CAD 1,770.
Likewise, the UK prices were adjusted in June 2023, with the Metis increasing by 8%. On the other hand, the accessories and the Mini increased by 13% and 3%, respectively.
5. Capucines Collection
| Bag Model | Current Price | Estimated Price in 2024 (4%-18%) |
| Capucines Mini | $6,100 | About $6,345 to $7,200 |
| Capucines BB | $6,750 | About $7,020 to $7,965 |
| Capucines MM | $7,450 | About $7,750 to $8,790 |
The Capucines collection hasn’t seen a price adjustment in 2023 the USA. Additionally, only the BB model experienced a 2% leap in 2022.
However, that’s not the case in other countries. For instance, the Capucines Mini went from £4350 to £5100, about 17% in the UK. The BB bag increased by 14%, while the MM sold for 16% more than the original price in June 2023.
While this leather collection increased in Canada, the ranges were between CAD 50 and CAD 100, which is reasonable. Some bags, like the black MM, remained unaffected by this price change.
Why Did Designer Bags Go Up in Price?
On the heels of a global pandemic and an uncertain political atmosphere, many people are looking to invest their hard-earned money to keep its value.
Moreover, during the Covid lockdowns, people stopped spending so much going out and socializing, so many consumers have disposable income they want to pay.
These factors led to many new faces in the world of designer bags. People who’d never contemplated buying luxury items are considering it for the first time. They view it as an investment or a means of self-care via retail therapy.
The outcome was that the demand for luxury goods recently skyrocketed. In true supply-and-demand fashion, the fashion industry is booming!
Is Louis Vuitton a Good Investment?
The answer to whether Louis Vuitton is a good investment isn’t a straightforward yes or no. Louis Vuitton is a massive brand with thousands of products at varying quality and price points. So the answer lies within the details of the Louis Vuitton product you’re discussing.u003cbru003eu003cbru003eThat said, u003ca href=u0022https://streetstylis.com/the-cheapest-louis-vuitton-item-you-shouldnt-miss/u0022u003eLouis Vuitton itemsu003c/au003e are almost always good purchases. The brand holds itself to a specific production standard, and the quality of the items usually exceeds cheaper brands. So if you’re looking for an item to use for the foreseeable future, Louis Vuitton is an excellent place to search!
Does Louis Vuitton Hold Its Value?
If you’re buying a Louis Vuitton branded item for the resale value, then you should keep in mind the following factors before making a purchase:
1. Design
Most people buy Louis Vuitton products to show off that they can afford Louis Vuitton products. NThere’sothing is wrong with that, but you should remember when choosing what to buy to resell.
You’ll mostly find LV logo-branded items do better on the resale market because they’re instantly recognizable as Louis Vuitton. Even the most gorgeous purse or accessory won’t fare as well if it features a plain leather design or no LV charm.
Another aspect of design that people are attracted to is the “mini” version of famous LV creations. These are usually made in smaller quantities and will be more appealing, like the Louis Vuitton Speedy Mini HL Handbag, with an average value retention of 201%.
2. Material
The material dramatically affects how well an item survives wear and tear. That’s why vegan leather almost always does worse than patent leather, and some fabrics don’t even make it beyond one or two seasons of heavy wear.
Always go for the better material even if it costs you a little more because the item will usually be in better shape when you try to resell. Also, remember that a second-hand buyer will be looking for a better-quality thing to spend their money on.
3. Collection
Specific Louis Vuitton collections and collaborations bring over 100% of their value to the resale market simply because of scarcity. People want what other people can’t have, so they’ll pay more if they know they’re the only ones who own that specific bag.
For example, at 119% average value retention, the Nigo Keepall Bandoulière bag does pretty great as a resale item. And the Louis Vuitton x NBA Ball in Basket Bag, with its cute design, instantly dazzles at a whopping 147% average value retention!
Compare this with the classic Louis Vuitton Alma, made in large quantities. It has an average retention value of 67%. Not something you want to waste your hard-earned money on.
4. Condition
The condition of your reselling item creates a massive gap between a quaint second-hand boutique and a local charity shop. Believe it or not, you can find designer items at thrift stores. However, those are usually worn and torn within an inch of their lives!
Taking care of your designer items to resell them doesn’t have to mean you never get to wear them or enjoy them. Remember that a mint-condition thing will always bring in much more money than a “broken-in” item with noticeable wear.
5. Age
You might be thinking, “Isn’t age-related to condition?” Well, it is, but an odd relationship starts once an item is no longer old and is instead vintage.
An old Louis Vuitton bag was made 3–4 years ago. A vintage Louis Vuitton bag was completed ten or more years ago and is in good condition, along with the other factors we mentioned earlier.
Do Louis Vuitton Bags Depreciate?
Not all of them do. Well-made, limited-quantity Louis Vuitton bags can appreciate over time. Mass-made, less appealing LV creations probably do worse on the resale market.u003cbru003eu003cbru003eAll in all, Louis Vuitton bags have an average retention value of 92% of their original price.
Why Does Louis Vuitton Burn Unsold Bags?
Before you jump to conclusions, not all unsold bags are destroyed. The company organizes private sales events for its employees to salvage unsold stock at lower prices, eventually selling them at cost.u003cbru003eu003cbru003eIf certain bags, shoes, or other items remain after several sales events, the company destroys them.u003cbru003eu003cbru003eThis is done because luxury brands rely on scarcity to maintain their value. If their items flood the market at lower prices, the company loses its appeal to a higher-end clientele. It’s not ideal, as it’s a deliberate waste of excellent merchandise, but it makes sense within their business model.
Did Louis Vuitton Raise Prices?
According to sources, Louis Vuitton has raised its prices multiple times in the past few years. In February 2022, Louis Vuitton announced a price increase worldwide in response to increased manufacturing costs and global inflation. In 2021, Louis Vuitton also increased its prices, with some popular bags rising by as much as 33%. In 2022, Louis Vuitton raised its prices again, with some items rising by as much as 38%.
Why are Louis Vuitton bags so expensive now?
Louis Vuitton bags are expensive due to the brand’s reputation, exclusivity, and high-quality materials and production. The recent price increase in 2021 is due to factors such as inflation and supply chain disruptions.
Do Louis Vuitton Bags Go Up in Value?
Louis Vuitton bags can appreciate in value, especially limited edition or discontinued styles. However, price increases have been common across luxury brands, with typical increases of 5-20%.
u003cstrongu003eWill LV reduce price?u003c/strongu003e
No, Louis Vuitton does not put their bags on sale. They do not have outlet stores or discounted prices online. The brand’s strategy is to maintain its strict standards for quality and exclusivity.
Is Louis Vuitton expected to raise prices as much as 20 in China?
Louis Vuitton was expected to raise prices by as much as 20% in China in February 2023, according to multiple sources, including Reuters and Aawsat.
Is Louis Vuitton cheaper to buy in Italy?
Depending on the bag’s price tag, you may snag a discount of between 20 and 25% buying the bag from Italy or any other European country. Sometimes, you may save up to $1,000 if you buy the LV bag in Italy rather than the US.
u003cstrongu003eDoes Louis Vuitton gain valueu003c/strongu003e?
Louis Vuitton bags hold their value well and can even appreciate over time, especially for specific limited edition or vintage pieces. However, this is subject to market fluctuations and depends on factors such as rarity, condition, and demand.
Which country is LV cheapest?
The cheapest country to buy Louis Vuitton handbags depends on exchange rates, taxes, and customs duties. However, Hong Kong and France are among the nations where LV is relatively cheaper.
Why LV is so overpriced?
Louis Vuitton products are expensive due to various factors such as the cost of high-quality materials, craftsmanship, labor, marketing, and exclusivity. The brand’s perceived value and status also contribute to the premium pricing strategy.
Disclosure: We only recommend products we would use ourselves, and all opinions expressed here are our own. This post may contain affiliate links that we may earn a small commission at no additional cost to you.
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