On July 3rd, it was reported that LV China stores had conducted another round of comprehensive price increases. The increase is about 3% -6%. Taking the popular CARRYALL style as an example, its small handbag has increased from 20600 yuan to 21800 yuan, and the medium handbag has increased from 21500 yuan to 22800 yuan, with increases of 5.8% and 6% respectively.
In fact, LV has raised prices at least 10 times in the past three years, and the Chinese market is a “high-risk area” for LV price increases. Only last year, LV has implemented three price adjustments. According to LV store staff, LV will experience another round of price hikes in the second half of this year. Many netizens have expressed their opinions on this, stating that “LV prices are rising faster than their blood pressure” and “eating looks ugly, they won’t buy anymore”. With the increasing downward pressure on the economy and the uncertain global financial market situation, consumers’ attitudes towards luxury goods are becoming more rational.
