Louis Vuitton to raise some prices due to rising costs

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LVMH’s top fashion brand Louis Vuitton says it will raise prices for some products globally on February 16 because of rising costs and inflation.

A spokesperson for the French luxury house in China told Reuters that the price adjustment would affect Louis Vuitton stores worldwide and be applied to leather goods, fashion accessories and perfume.

The decision takes into account changes in production costs, raw materials, transportation as well as inflation, the spokesperson said.

The company last week faced pressure by hundreds of workers in Louis Vuitton’s French factories. as they staged a walkout protesting low wages and working hours they say are difficult to juggle with personal and family life. The work stoppages were organized by two labour unions, the French Democratic Confederation of Labour (CFDT) and the General Confederation of Labour (CGT).

The walkout occurred at four of the 18 factories owned by Louis Vuitton in France, with 330 workers participating, CGT said. An LVMH spokesperson said that 240 workers participated across three production facilities.

via Reuters

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