Antoine Belge, an analyst at HSBC , revealed the cost increase applies to non-leather goods such as the popular canvas versions of the Speedy handbag and Neverfull tote. LVMH, the luxury brand’s parent company, introduced the price hike across its main markets at the beginning of the year in an attempt to keep on top of sliding currencies. Pricey accessories: Louis Vuitton has raised the prices on many of its best-selling items by up to 12per cent – pictured is the Speedy handbag (left) and Neverfull tote (right) According to analysts’ estimates canvas items make up about two-thirds of Louis Vuitton’s total accessories sales. Price increases of around ten per cent were spotted in the euro zone, and of ten per cent or more in the UK and in the U.S. over recent months. It also noted hikes of five to ten per cent on the same goods in several Asian markets including China, Hong Kong, Taiwan and Singapore. Where ARE your clothes made, Juicy Couture?
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Louis Vuitton Raised Most Non-Leather Handbag Prices, HSBC Says
The trunk maker owned by Paris-based LVMH Moet Hennessy Louis Vuitton SA (MC) lifted prices on bags such as the Speedy and NeverFull by about 10 percent in the euro region, Antoine Belge , an HSBC analyst, said today in a note to clients. Vuitton raised prices by at least 10 percent in the U.K. and U.S., and by 5 percent to 10 percent in Asian markets including China, Hong Kong, Taiwan and Singapore, the analyst wrote. The euros strength against some currencies may lead LVMH to charge more, Chairman and Chief Executive Officer Bernard Arnault said Jan. 31. Vuittons price increase in Japan, the biggest ever by the brand in the country, was taken to offset the impact of the yens slide on sales, the company said Feb.