The makers of high end and luxurious handbags, Louis Vuitton, just become a touch more elite. After raising prices by an average 12 percent in Japan last month, they have also increased the prices of non-leather handbags in most of their main markets since the start of the year. Their hot-selling Speedy and Neverfull bags became more expensive by 10 percent in the euro region, U.K. and U.S and by 5 percent to 10 percent in Asian markets including China, Hong Kong, Taiwan and Singapore.
Louis Vuitton has taken the decision to increase prices of their non-leather bags in a bid to battle currency fluctuations and this analysis has been made by HSBC. Despite this, it has been predicted that the French luxury label’s sales may rise by 6 percent but volume decline 2 percent to 3 percent in 2013.