To find out when Louis Vuitton will increase price in 2024, let first look at the history of price increase by Louis Vuitton from 2023 to 2011. First, there are basically two types of price hike. First there is the Broad-based price increase where we see increase in prices globally. Secondly, there is the selective price increase only occur in a few countries.
A broad based price increase occur in 2023, when Louis Vuitton announces global price increase due to supply chain shortages and inflation. Separately, a selective price increase will be in Jan 2023, LVMH executives signaled limited price hikes, mainly for leather goods, to reduce price gaps between the United States and Europe. Due to inflation correction and currency fluctuation, such regional price harmonization only affect a few countries.
Having said that, this doesn’t mean that the prices is stagnant thru out the year and only impacted by these price increase mentioned above. The prices are always making small adjustment thru out the years however it may only impact a certain range of products like accessories, shoes etc and not all the products.
The worse price increase we see so far for the past 10 years was in 2020. After increasing the prices in March 2020 by 3 percent Worldwide. On May 5th, Louis Vuitton announced another price increase. Similarly, many luxury brands like Louis Vuitton are rushing to raise prices at that period as the market start open up to make up for lost sales due to coronavirus lockdowns.
Coming back to when Louis Vuitton increase prices in 2024, let take at the trend of when the price increase between 2011 to 2023 below. The table below show the number increase Louis Vuitton for each year. For example, in 2023, the price was increased in three separate occasion, February, June and August. Based on the findings and trend below, it is certain that the next price increase will likely to occur in Jan/Feb 2024. If you are eyeing a Louis Vuitton purse, make sure you buy this Christmas before the price hike in 2024.
Updated News on 2nd July 2024, Louis Vuitton increase its price globally on 2nd July 2024. Following is updated price list for Australia, UK, United States, Europe, Canada, Singapore
Louis Vuitton Pricelist in Australia after price hike on 2nd July 2024
Louis Vuitton Canada Pricelist after 2nd July 2024 increment
Louis Vuitton Europe Pricelist after 2nd July 2024 increment
Louis Vuitton Pricelist in Singapore after price hike on 2nd July 2024
| Year | 1st Increase | 2nd Increase | 3rd Increase |
|---|---|---|---|
| 2023 | Feb | June | Aug |
| 2022 | Feb | Nov | |
| 2021 | Jan | Aug | Oct |
| 2020 | March | May | |
| 2019 | Feb | Nov | |
| 2018 | Feb | ||
| 2017 | Feb | ||
| 2016 | April | Aug | Oct |
| 2015 | Feb | June | |
| 2014 | Feb | ||
| 2013 | March | Oct | |
| 2012 | April | Oct | |
| 2011 | Feb | June |