Some companies face tricky decisions about whether to pass rising costs on to customers. But in the world of Louis Vuitton bags and Cartier watches, prices are going up—with little resistance so far from wealthy shoppers.
The world’s luxury-goods giants are raising prices on handbags, clothes, shoes and jewelry—and facing little resistance so far from shoppers.
LVMH Louis Vuitton Moët Hennessy SE increased its handbag prices globally this week, in some cases by double-digit percentages, according to Bernstein Research. LVMH declined to comment, but Bernstein, which tracks the closely followed industry proxy, estimates that global handbag price hikes at LVMH’s Louis Vuitton brand came in on average at between 6% and 7%.
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