Leading luxury brands have increased prices of some handbag lines, ostensibly to protect their profit margins. Other brands may fear a backlash if they follow suit, however.
First Chanel, now Louis Vuitton – will prices of more luxury
Luxury brands have bumped up prices multiple times this year to recoup lost spending caused by the Covid-19 pandemic. The strategy has an expiration date.
Increasing prices in Covid-19? Chanel, Louis Vuitton show it works
Gen Z-led strategies begin to pay off for brands, and investment in brick-and-mortar stores and tech talent remains key in the latest Vogue Business Index.
Vogue Business Index: Louis Vuitton takes the lead from Chanel on
A limited digital operation and high exposure to fragrance and beauty were among the factors that held the French giant back last year. But sales have since returned to growth over pre-pandemic levels and the company has no intention of selling its fashion online.
Chanel Sales Bounce Back After Heavy Pandemic Hit
Amid Covid-19, luxury fashion brands are dramatically raising prices to make up for sales losses – so who are the biggest offenders?
The big luxury brand price hike: Chanel, Louis Vuitton, Michael
Rather than offer discounts, high-end brands like Chanel are asking even more for their products. Silvia Ihring, style editor-at-large for German daily Die Welt, explains why.
How The Pandemic Pushed Up Prices On Some Luxury Goods
Chanel ramps up handbags price by a quarter, Vuitton increased price in March and May, while entry-price products take center stage online.
Luxury Brands Brace Price Hikes and Entry-Level Items in China
Top-tier brands like Chanel and Louis Vuitton are hiking prices in what looks like a bid to pad margins, cushion the impact of lower sales volumes and capitalise on the China rebound.
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Why Luxury Brands Are Raising Prices in a Pandemic
Luxury Gets More Unaffordable As Prices Hike During Crisis
Covid 19 has savaged the global economy brutally, crushing the consumer demands of luxury goods. Many iconic labels and brands such as Roberto Cavalli, Diesel, J.C. Penney, Forever 21, to name a few have already filed for bankruptcy under chapter 11 where they are seeking to operate their few stores and in the meanwhile come up with a reorganization plan to clear the roaring debt. In the middle of squeezed disposable income of the consumer, a few of them, for
DECODING THE LUXURY BRANDS' PRICE HIKE, AMID THE PANDEMIC - By
PARIS — Ms Sharon Wong had decided she had earned a little indulgence as she browsed at Louis Vuitton in La Samaritaine department store, one of Paris’s marquee luxury shopping destinations.
From Louis Vuitton to Hermes, will the extraordinary boom in
Luxury brands have had to slash forecasts for their 2022 China sales after a rocky year. Are things looking any better after the 20th Party Congress?
What's next for luxury brands in China after the 20th Party
STORY: A post-lockdown spending splurge looks to be cooling off. Luxury bellwether LVMH said late Tuesday (October 10) that its sales were up just 9% over the third quarter. That was a slowdown on previous periods. The company said growth levels were going back to historical averages after three “roaring years”. LVMH owns labels including Louis Vuitton, Dior and Tiffany. It’s the world’s biggest luxury goods firm, and closely watched as a gauge for the whole sector. And it doesn’t seem to be immune to soaring inflation and global economic turbulence. Demand for high-end goods has cooled in the U.S. and Europe, where consumers are battling steep price rises for all kinds of products. In China, the economy has proved slower than expected to bounce back from restrictions.A stronger euro also hurt, cutting the value of the France-based firm’s sales in the U.S.However, one analyst described the latest earnings figures as “good enough” to support LVMH shares. They’ve lost around $100 billion in value since April, as investors lowered their hopes for the luxury sector. The slide saw LVMH unseated as Europe’s most valuable firm, losing its title to hot Danish anti-obesity drug maker Novo Nordisk. The next big test for the luxury sector will come on October 24, when numbers are due from Hermes and Kering, owner of Gucci and other brands.
LVMH growth cools as post-lockdown splurge fades