Louis Vuitton to raise its prices later this week

Louis Vuitton, one of the leading brands of French luxury conglomerate LVMH, has announced that it will raise its prices later this week. The decision to do so comes at a time when most companies are struggling with the current supply chain problem. 

Louis Vuitton points to changes in manufacturing costs, raw materials and transport, as well as global inflation, as the main reason why its leather goods, accessories and fragrances will be priced higher by the end of the week. It seems that the brand is following in the footsteps of its competitors such as Chanel who in December announced that it would raise the prices of its most classic handbags by at least 60%.

The Covid-19 pandemic has forced companies to halt or minimise production for much of 2020. This has led to delays around the world and unprecedented disruptions in the global supply chain. This is the case for the maison Louis Vuitton, which still reported record revenues for 2021, reaching 71.1 billion dollars. That’s a 40% increase over last year’s numbers.

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