Does LV Have To Raise Prices? To Maintain The Quality Of Goods

2010/10/9 18:10:00 54

Two weeks after announcing that most stores in France close their stores ahead of time, luxury leather goods brands

Louis Vuitton

(LouisVuitton) increase the price of some products, according to sources told Agence France-Presse that the reason is "pressure of rising prices of raw materials".

According to the well-informed source, the increase is mainly related to the French market, with the increase from zero to 10%.

Best seller

The handbag is 9% ", for example, the Monogram canvas series.

Brand best-selling products Monogram canvas bag price from 460 euros to 2600 euros.

When Agence France-Presse inquired about it on Thursday, Louis Weedon (LVMH group) refused to confirm the relevant information and would not comment on it.

The current increase in raw materials involves

Jewellery

Gold and palladium used in industry.

But it also involves cotton and leather.

The source said that the latter two increased by more than 50%.

The source said, "one hour ahead of time closing is expected to maintain the quality of production in France, and the price rise is to cope with the rising price of raw materials".

Louis Weedon group of LVMH group has announced that most stores in France from September 13th to November 30th will be closed one hour ahead of schedule because of insufficient stock and fear of a shortage of goods before Christmas.

LVMH, the global luxury giant, posted a 53% increase in net profit in the first half of July, mainly thanks to the rise in sales, especially the hot selling of Louis Weedon handbags.