The makers of high-end and luxurious handbags, Louis Vuitton, just become a touch more elite. After raising prices by an average of 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 decided to increase the prices of their non-leather bags in a bid to battle currency fluctuations, and HSBC has made this analysis. 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.