Neverfull, Now Pricier.
Louis Vuitton has opted to raise the price of their Iconic Neverfull GM bag amid a 10% tariff across European Union-based suppliers.
Bloomberg reported that the price of the bag increased by 4.8% just last week. On the official Louis Vuitton website, the Neverfull GM is now $2,200 USD, up $100. Luca Solca, an analyst at Bernstein, shared that Louis Vuitton has raised the price of all handbags by 3.6%, although some bags have remained at the same price as they may be manufactured in one of three US-based workshops.
The brand’s act of increasing prices might become a new norm as Donald Trump continues enacting tariffs. At the moment, some of the largest tariffs include 145% on China, 46% on Vietnam and 37% on Bangladesh.
Louis Vuitton and LVMH reps have yet to comment.
PHOTO CREDIT: Louis Vuitton
