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LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years

LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years

Southern Metropolis Daily

2024-07-02 08:59Southern Metropolis Daily official account

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01LV has increased prices across the board since July 2, with an increase of 5% to 8%, and some counters have received price adjustment notices.

02 In the past three years, LV has adjusted its prices at least 10 times, with an average of three times a year, basically at the beginning of the year, the middle of the year and the end of the year.

03 Dior, which also belongs to LVMH, has raised prices at the end of June, and the price adjustment products cover a variety of handbags, with an increase of 3% to 9%.

04LVMH plans to continue to expand its retail footprint in the Chinese market in the second half of the year, as the contribution of Chinese consumers to global leather goods sales soared by 10%.

05In addition, Bernard Arnault, Chairman of LVMH, joined the bid for the Bauer Hotel in Venice, which was put up for sale due to the collapse of the European luxury real estate group Signa.

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Recently, many netizens on social media revealed that LV will increase prices across the board from July 2, with an increase of 5% to 8%, and it is reported that some counters have received price adjustment notices. It is worth noting that on February 19 this year, the brand raised the prices of some products in the Chinese market, with an average increase of 6%, of which Carryall small and medium handbags rose from 19,600 yuan and 20,500 yuan to 20,600 yuan and 21,500 yuan respectively. According to the information revealed by netizens, in the new round of price adjustment, the price of Carryall small is 21,800 yuan, an increase of 1,200 yuan, an increase of 6%. According to statistics, in the past three years, LV has adjusted prices at least 10 times, an average of three times a year, basically at the beginning of the year, the middle of the year and the end of the year.

In addition, Dior, which also belongs to LVMH, has raised prices at the end of June, with price adjustments covering Lady Dior, D Joy, Booktote, Toujours, 30 Montainge handbags, Caro, Saddle bags and other products, with an increase of 3% to 9%.

LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years
LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years

Screenshot of Xiaohongshu.

LVMH's sales in the first quarter of 2024 fell 2% year-on-year to 20.69 billion euros, up 3% on an organic basis and below the 21.1 billion euros expected by Visible Alpha consensus analysts. Revenue in the fashion and leather goods divisions of LV and Dior fell 2% to 10.49 billion euros, with organic growth narrowing to 2% from 9% in the previous quarter, below analysts' forecasts of 10.66 billion euros, the worst performance in nearly two years, but still the group's best-performing division. Bernard Arnault, Chairman of LVMH, stressed in the earnings call: "Growth at all costs is not the Group's goal, it is to increase the desire to be desired. Jean-Jacques Guiony, chief financial officer of LVMH, said that the total contribution of Chinese consumers to global leather goods sales rose by 10% during the reporting period. In the second half of the year, the Group plans to continue to expand its retail footprint in the Chinese market and focus on enhancing the retail experience.

LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years

LVMH's market value was overtaken by Procter & Gamble

A few days ago, Companies Market Cap announced the latest company market capitalization ranking in 2024, among the top 100 companies with the highest market capitalization, Microsoft ranks first with a market capitalization of $3.22 trillion, Apple ranks second, with a market capitalization of about $3.18 trillion, followed by Nvidia, Alphabet and Amazon with $2.97 trillion, $2.19 trillion and $1.95 trillion respectively. Among them, Tencent has a market capitalization of 448.74 billion US dollars, ranking 19th.

LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years

It is worth noting that LVMH ranked 23rd with a market value of $395.22 billion, while Procter & Gamble ranked 22nd with a market value of $395.27 billion. French cosmetics giant L'Oréal has a market capitalization of about $259.26 billion, ranking 38th. Hermes has a market capitalization of about $239.61 billion, ranking 43rd.

Join the battle for the Venice Hotel

Bernard Arnault, chairman of LVMH, has joined the bid for the Bauer Hotel in Venice, which has been put up for sale due to the collapse of European luxury real estate group Signa, which is being managed by investment management firm King Street Capital Management. The source added that the deal was highly competitive and had already attracted bids of up to 280 million euros, and it was uncertain whether Bernard Arnault would be able to make the acquisition. LVMH has declined to comment so far.

Separately, Bernard Arnault recently denied rumors of an upcoming LV hotel on a conference call. The Paris city regulator approved LVMH's application for commercial development in the city block last September, allowing it to carry out retail, hotel accommodation and the construction of internal courtyards, but the group did not disclose details of the new project.

On June 20, LVMH acquired a majority stake in Chez l'Ami Louis, a long-established restaurant in Paris known for its traditional French cuisine such as steak, foie gras, roast chicken and snails, continuing to strengthen its diversified layout in the experience economy such as high-end hotel dining. The group also recently announced a partnership with Accor to develop the Orient Express, and supported the expansion of the Orient Express, which is known for its luxury train services, into the cruise industry.

Launch of the Spring/Summer 2025 menswear collection

LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years

2025 Spring/Summer Men's Outfit Xiu.

Last week, LV unveiled its Spring/Summer 2025 menswear collection by Menswear Creative Director Pharrell Williams at UNESCO headquarters in Paris. Creative team Air Afrique and art critic Simon Njami collaborated to create the prologue film for the show, inspired by "The World is in Your Hands". The collection includes suits, evening gowns, velvet jackets and transparent suitcases, in raw leather, cashmere, technical leather and suede, with a predominance of black and grey. So far, the cumulative views of the two related short videos posted by LV on Instagram have exceeded 950,000. The show connects different communities from around the world through the lens of the sun, paying tribute to the positive energy of the brand's travel ethos.

Written by: Nandu reporter Wang Xin

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  • LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years
  • LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years
  • LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years
  • LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years
  • LV has raised prices again this year, by 5% to 8%, and has adjusted prices ten times in three years
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