The new year finally began! 2021, a fresh start! A time for new revolutions like going to the gym, quit smoking or buying a new designer bag. Which girl doesn’t love a beautiful Louis Vuitton purse in her closet?
However, 2021 didn’t start in the best way possible for designer bag buyers, as today, Louis Vuitton announced their first price increase of 2021… When you want to buy a new bag in the store, this announcement hits hard. On the other hand, for the people that already have a Louis Vuitton bag, this is good news. Their bag has raised in value! In today’s blog, we will give you a little bit more information about the price increase. Buckle up, because it’s a wild announcement.
Yearly price raise
Not all brands can afford an annual price increase. The ability to raise prices brings a certain “brand power” with it. Four times a year, Louis Vuitton raises their prices, this implies three times on separate popular products and one time a year on their entire collection. Last year in March, Louis Vuitton announced a price increase of 3% for all their products in 2020! Yes, you read it correctly, 3%! Hold on tight, because this year just started.
This year’s increase
Over the years, we all got used to the fact that luxury brands raise their prices. Actually, it is quite normal for luxury brands to do this. They started the first price increases on a certain popular handbag. For the 2021 Louis Vuitton price increase, the French luxury brand decided to raise the prices with different percentages, not a fixed percentage. After reading this blog, you probably want to know if your favorite bag increased in value. We organized our favorite bags with the old price, the new price, the increased percentage and finally our price.
Let’s look at the Louis Vuitton price increase for January 2021!
|BAG||OLD PRICE||NEW 2021 PRICE||PERCENTAGE||OUR PRICE|
|Speedy 25 Bandouliere Monogram Canvas||€1150||€1180||2.6%||€500|
|Speedy 30 Bandouliere Monogram Canvas||€1170||€1200||2.6%||€550|
|Speedy 35 Bandouliere Monogram Canvas||€1190||€1220||2.5%||€550|
|Speedy 40 Bandouliere Monogram Canvas||€1150||€1180||2.5%||€550|
|Neverfull PM Monogram Canvas||€1070||€1100||2.8%||€750|
|Neverfull MM Monogram Canvas||€1120||€1150||2.7%||€800|
|Neverfull GM Monogram Canvas||€1170||€1200||2.6%||€875|
|Pochette Accessoires Monogram Canvas||€480||€600||25%||€500|
|Cosmetic Pouch Monogram Canvas||€325||€375||15,4%||€225|