Louis Vuitton raises price on popular US bag following new Trump tariffs
has increased the price of one of its most popular handbags in the US following the implementation of 10% tariffs on goods coming from the European Union.
The Neverfull GM bag in monogram-coated canvas now costs $2,200 on the company's US website, $100 more than last week, a 4.8% price hike.
Representatives for Louis Vuitton and LVMH didn't immediately reply to requests for comment.
Luxury groups including LVMH Moët Hennessy Louis Vuitton SE have warned that they'll raise prices to offset the US tariffs imposed earlier this month. The group's Chief Financial Officer Cecile Cabanis said last week she believes its brands benefit from pricing power.
While LVMH doesn't provide financial performance by brand, Louis Vuitton is its biggest label, representing about a quarter of total revenue but more than half of the conglomerate's profit, according to estimates by HSBC.
Louis Vuitton, known for its monogrammed trunks, likely generated €21.6 billion ($24.6 billion) in sales last year, according to HSBC, making it the world's biggest luxury fashion label.
Hermès International SCA last week announced that it will raise prices in the US as of May 1 to offset tariffs, with details on final pricing still being ironed out.
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