New Year is a perfect opportunity to get rid of something old to make room for something new and updated. That seems to be Louis Vuitton’s motto as January 7, 2021 saw a price increase on most popular canvas items worldwide.
However, this time, compared to 2020 when Louis Vuitton increased its prices twice within 2 months (read the full story in Louis Vuitton Increases Prices in the USA in May 2020 Despite Pandemic ), the price increase was somewhat expected and predictable. The brand usually raises its prices at this time of the year.
Most items affected are in the Top 100 Louis Vuitton items, and we see that small leather goods have been hit pretty hard.
How Much Are Louis Vuitton Items Now? USA vs Europe vs Australia Prices in January 2021
USA Louis Vuitton Prices 2021
Europe Louis Vuitton Prices 2021
Australia Louis Vuitton Prices 2021
As you can see, the biggest price rise is for Louis Vuitton Pochette Accessoires, 25% all over the globe, which got recategorized from slg into a bag. Louis Vuitton fans are pretty annoyed as the official website almost never has it in stock and are reminiscing that Pochette Accessoires was half that price just last year at this time.
Facebook admirers of the brand still remember buying a new PA in 2009 for around $350 and discuss how crazy it is that it took many years for Louis Vuitton to increase their price from $350 to $525 in 2020 but it only took a year after that increase to get to $790.
Other slgs that got seriously affected are the Key pouch (20% all over the world), Mini Pochette Accessoires (22%), and Toiletry of all sizes with the price for the smallest one increased by 17-18%. Other canvas items went up by 2-7%.
Interestingly enough, now the price for 2 types of Pochette Metis – Monogram and Reverse Monogram – is the same in every country except for the US where the price didn’t get equilized, and the reverse version is still $50 more.
Another surprise – leather NeoNoe actually dropped in price from $2700 to $2390. No one thought this could ever happen at all. Quite unexpected, taking into account that prices for canvas items jumped and for a leather item went down.
Reactions to the Louis Vuitton Price Increase 2021
As with the last price increase amid the pandemic peak, many Louis Vuiton fans are upset. A lot of them think that this is just “ridiculous”, “appalling”, “beyond reasonable” and “crazy”.
Some say that they have been stalking the items affected by the price change for weeks and complain that since they’re increasing prices it would be nice if their inventory were a little more available on their website and in stores. What’s the point in increasing the price if you can’t even find what you are looking for?!
The most loyal customers who heard rumours about the upcoming price rise spent all day on the website and are now joking that they have a much better knowledge of LV inventory and a solid dent in their checking account trying to snatch their favourite items at the last moment.
Some claim that they will hold off on buying from them from now. Customers are getting fed up with these constant never-ending price changes and say goodbye to Louis Vuitton choosing Gucci and YSL leather bags over it. The main reason behind it is that the quality and general customer service have decreased so much the last few years that it’s not even worth it.
Many are turning to the pre-loved market considering the retail to be out of control. If you are one of them, be sure to check our stock at Bagaholic, we have a lot of great bags available at a much better price.
The global disappointment is due to the simple fact that the more modest increases are easier to swallow. A 2-4% increase makes sense, and it is to be expected from most or any brand. The 20-25% increases are more surprising and more difficult to swallow, especially when they are placed on the entry type items.
Of course, some people may get turned off by the recent price increases, but for the most part, people will just keep paying the price for what they want. It is all part of supply and demand, and there is still a huge demand for luxury goods.
Moreover, now it has become clear more than ever that designer bags are a true investment. Just look at the figures. The price of the Key Pouch was $205, then went up to $215, then to $225, and now $270. And, for example, a Pochette Accessories a couple years ago cost $500, then the price rose to $525 in January 2020, then to $630, and now $790. If you are still not convinced, our research on Why You Should Invest in Louis Vuitton Neverfull MM Right Now is your must-read.
Reasons Behind the Recent Louis Vuitton Price Increase 2021
Some believed that such a dramatic price increase might have been due to the tariffs on French luxury goods that were to take effect on January 6, 2021, but, to the joy of American lovers of French bags, it was suspended, and, besides, the prices didn’t get up just in the USA, but worldwide.
The main reason is that the brand wants to stay exclusive, and not just anyone can buy it. Also, the bags Louis Vuitton increased prices for are the ones that are heavily replicated and sold through the counterfeit market. It looks like the pieces that are getting knocked off or resold are being targeted.
Most increases (especially the hard to find SLGs) match the price you see re-sellers selling for. Louis Vuitton must have taken that into consideration. If they know people will pay that much to get it, they figure they can charge that, too.
Facebook users believe that the pre-loved market played a role. Louis Vuitton goods selling above retail on the resale platforms just give Louis Vuitton more incentive to raise prices because people are already willing to pay this high price. But customers still think it’s just going to push the pre-loved prices higher because certain items will still be hard to get.
Some, nevertheless, point our that if you look at other luxury brands such as Gucci, Fendi, Valentino, and compare their prices to the LV slg models that have recently gone up, LV is still cheaper. For example, Gucci version of the key pouch is more expensive. If you look at a Fendi or Gucci basic pochette style that would be comparable to the LV Pochette Accessoires, the other brands are priced higher.
Only Louis Vuitton, Chanel and Hermès are brands that have “classic” pieces that have been around and available for purchase for generations, all these other brands do not. The other brands have the advantage of changing their styles and canvases seasonally, so this way they can price an item as they want, and you don’t really notice the price increase.
Which Louis Vuitton Items Didn’t Go Up in Price?
Here are the list of the pieces that didn’t go up in price: Speedy of all sizes in canvas, Nano Noe, Nano Speedy, Montsouris BB and PM, Graceful PM and MM, Nice BB, Mini and Nano in Canvas, Keepalls in all sizes in Canvas, Onthego GM in Empreinte, Alma MM and PM in Canvas and Empreinte, Palm Springs, Petite Malle, card holders, wallets, 4 and 6 key holders, agendas. And here is our advice – if you have been eyeing one of these items, go grab them quick, especially such popular pieces as, for instance, Nano Speedy, as it is just a matter of time, the next price increase will happen soon.
Has the price for the item you’re have been planning to purchase gone up? Tell us what you feel about Louis Vuitton worldwide price increase 2021 in the comment section.Recommended2 recommendationsPublished in