Louis Vuitton Increases Price of Neverfull GM Bag in US
Following the 10% tariffs on goods from the EU.
Louis Vuitton (LV) has raised the US price of the Neverfull GM bag following the 10% tariffs on goods from the European Union.
Bloomberg reports that the popular bag experienced a 4.8% price hike from last week. The Neverfull GM is now priced at $2,200 USD on Louis Vuitton’s US webstore — a $100 USD increase.
Bernstein analyst Luca Solca shared in a note that LV US raised its handbag prices by 3.6%. However, he also shared that many items were excluded from the price increase as they may be manufactured in one of LV’s three US-based workshops.
Louis Vuitton and LVMH reps have not commented on the matter.
Bloomberg adds that luxury companies, including LVMH Moët Hennessy Louis Vuitton SE, previously announced that they will increase the prices of their goods to counterbalance the tariffs imposed by the US. CFO Cecile Cabanis stated that the strategy will impact each brand and product differently, however.
