So there’s an increase, on an increase, on an increase. Louis Vuitton prices have gone up again, and it really has ruffled a few feathers. Though to be honest, how could it not? Even without what is going in the world, in feels as if LV prices are increasing ALL OF THE TIME! The increases are now coming thick and fast, this being the second time the prices have jumped up from December. I bought a mini pochette at the start of December, and the price was in and around £185. By February this was £220, and now £230. Obviously the higher the price of the item, the bigger the jump. My pochette metis was £1300 in January 2019, this is now £1410.00, my Neverfull, bought in 2011 was 550 euro, now £1090.00. These are steady, significant increases, that are coming about every 2-3 months. Louis Vuitton are not the only fashion house to follow this trend, with the Chanel price increase due any day, again likely to be sizeable increases. The Chanel classic flap bags are pushing towards the heights of the prices of Hermes, with the medium flap pushing £5000.00. This is all leaving very disgruntled consumers, and a feeling afloat that the brand does not value its customer base. Set this against the back drop of the current global crisis, where unemployment is skyrocketing and the economic deficit is likely to reach heights far beyond the 2007/2008 recession. People are understandably worried about mortgage and rent payments, and surviving week to week, with most of us either being directly affected, or knowing someone directly affected, it is easy to see why this is leaving a nasty taste in the mouth.
Taking a step back though, and taking an objective view, this is a luxury fashion house we are talking about, not a community store that gives back. It is purely a luxury business, aimed at exclusivity, dealing with their own falling profit levels with store closures, outgoings to meet, and taking a black and white, unemotional view of their pricing levels. Photos emerged on social media of one store re-opening, with the queue outside, many, many people deep. Clearly, the luxury fashion industry can withstand the fluctuations of the economy, with their target market, rightly or wrongly, still being able to afford to purchase, and choosing to purchase, their goods. They no doubt have shareholders and board members, whose only concern is the bottom line, and the increase has been applied, universally and dispassionately. I have read some comments online that the person will no longer be shopping at LV, the pieces on their wish list they were yet to buy, will be left unbought. I think if you take this view, and can stand by this view, you are to be applauded for taking a stand, and of course, it is personal choice. Do I think that will be the majority view, and their popularity will fall, no I do not. I personally think that if a person is an LV fan, and wants an LV piece, and has the funds to purchase the piece, that they will continue to buy from LV. Am I happy about the price increase, of course not. I think it is ill-timed and disrespectful to what is being faced by the world, but I think it is the house setting itself above being affected by the peaks and lows of the economy and taking the stance of a luxury house, if you want a luxury, non-essential item, you will pay their price. Will I write off any further LV purchases in future, no I won’t. I am not impressed with their further increase, after such a short time, and at this particular time, but I would be lying to myself if I said I would never purchase from them again.
Whatever our view, whether we are outraged or understanding, the reality is that the fashion house is likely to continue unaffected, weathering the storm of the current crisis and their customer revulsion, and continue to sell out online and report profit levels most can only dream about.
Thank you for reading, I hope you are well and safe, and see you here again soon,
Princessluxlove xx