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ALL YOU NEED TO KNOW ABOUT THE LOUIS VUITTON PRICE INCREASE

ALL YOU NEED TO KNOW ABOUT THE LOUIS VUITTON PRICE INCREASE

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Louis Vuitton, one of the top iconic brands in the luxury conglomerate LVMH, announced on February 16 that it would be starting to raise prices on leather goods, accessories, and fragrances worldwide.

 

The price increase announcement came amidst increasing manufacturing costs and global inflation. Louis Vuitton told Reuters, "The price adjustment takes into account changes in production costs, raw materials, transportation as well as inflation."

 

The February 2022 price hikes vary depending on the product. According to Purseblog, the Speedy bags increased in price by 10% - 17%. The accessible entry-level Louis Vuitton Pochette Accessoires increased by 23%, from $1,050 to $1,290. The classic Neverfull collection also saw significant increases from 16% to 20% across all the sizes.

 

Refer to this table below for a full breakdown of the Louis Vuitton February 2022 price increase.

Louis Vuitton February 2022 Price Increase

Bag
Price Before (USD)
New Price (USD)
New Price (CAD)
Speedy 25 Monogram Canvas
$1,350
$1,490
1,900 CAD
Speedy 30 Monogram Canvas
$1,370
$1,550
1,980 CAD
Speedy 35 Monogram Canvas
$1,390
$1,620
2,070 CAD
Speedy 40 Monogram Canvas
$1,410
$1,690
2,150 CAD
Speedy Bandoulière 25 Monogram Canvas
$1,690
$1,820
2,330 CAD
Speedy Bandoulière 30 Monogram Canvas
$1,740
$1,890
2,410 CAD
Speedy Bandoulière 35 Monogram Canvas
$1,800
$1,960
2,500 CAD
Neverfull PM Monogram Canvas
$1,620
$1,960
2,500 CAD
Neverfull MM Monogram Canvas
$1,690
$2,030
3,900 CAD
Neverfull GM Monogram Canvas
$1,760
$2,100
2,670 CAD
Pochette Accessoires Monogram Canvas
$1,050
$1,290
1,640 CAD
Mini Pochette Accessoires Monogram Canvas
$540
$745
950 CAD
Pochette Métis Monogram Canvas
$2,360
$2,570
3,250
Palm Springs Mini
$2,300
$2,440
3,100 CAD
Palm Springs PM
$2,430
$2,570
3,250 CAD
Palm Springs MM
$2,570
$2,710
3,450 CAD
Onthego MM Monogram Canvas
$2,840
$3,100
3,950 CAD
Onthego GM Monogram Canvas
$3,100
$3,250
4,150 CAD
Men’s Monogram Eclipse Trio Messenger
$2,360
$2,500
3,200 CAD
Pochette Coussin
$2,570
$2,840
3,600 CAD
Coussin PM
$3,900
$4,700
6,050 CAD
Coussin MM
$4,300
$5,400
6,900 CAD

How does this affect the resale market?

What Louis Vuitton's price increase also means, is that more people are going to seek out preloved Louis Vuitton in the resale market. If you already own a Louis Vuitton bag, especially a sought-after classic like the Pochette Metis, you might want to consign your item now due to the higher demand (that means higher profit!).
Though overall prices for Louis Vuitton items may also increase in the secondhand market to reflect the increase in demand, it’s still much more cost-effective to purchase preloved as you will still get a Louis Vuitton bag for less than retail.
We hope this blog helped you get a better idea about the Louis Vuitton February 2022 price increase. What are your thoughts about the price hike?
Tags: Consignment Experts Designer Fashion Designer Fashion Community Designer Handbags Fashion Insider Louis Vuitton Bag Louis Vuitton Classics Luxury Handbags
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