5 Reasons Why Louis Vuitton is so Expensive
Louis Vuitton is one of the most expensive luxury brands on the market today. The Louis Vuitton logo is recognizable worldwide, and because of this LV can charge a premium for their products. Louis Vuitton is so expensive because of the Louis Vuitton name, they destroy previous models allowing them to charge a premium for their products, they suspend production of a product when it hits its sales targets, and due to inflation.
Paying for the Louis Vuitton Name
The main reason why Louis Vuitton is so expensive is because you are paying for the Louis Vuitton name. According to BrandZ, Louis Vuitton is the most valuable luxury brand in the world. Because it’s the most valuable luxury brand in the world, LV can charge a premium for their bags, accessories, and clothing. The Louis Vuitton name is often associated with wealth and can even be traced back to the royals who needed and used LV stackable luggage. When you purchase a Louis Vuitton bag you are paying for the Louis Vuitton name.
LV Destroys and burns previous models allowing them to charge a premium for their products
Did you know that in order to charge a premium and remain at a high price point, Louis Vuitton actually destroys previous models of the bags instead of selling them at a discount? LV will burn and destroy old stock in order to maintain exclusivity and continue charging high prices. Don’t expect to walk to a LV store and purchase last year's model at a discount because it’s likely already been destroyed. It’s not uncommon for luxury brands to destroy previous model bags or merchandise, this is common practice in the luxury industry. Shop Vintage Louis Vuitton Bags
Louis Vuitton Suspends production of a product when it hits its sales targets
Another reason why Louis Vuitton is expensive and desirable is because as soon as LV hits their sales targets they suspend the production and sales of the product. When a company sells too much of any one product it can lose its value and appeal. Could this be the reason why the Louis Vuitton Neverfull in canvas has been discontinued from stores? I’ve seen this happen with many popular bags, the Sales Associate will say it’s sold out, it will be sold out online and extremely difficult to purchase.
Inflation Impacts the price of Louis Vuitton Bags
Since 2020, inflation has been increasing at a staggering rate. According to the government inflation tracker on average prices has grown by 17%. With inflation on the rise this is a great opportunity for Louis Vuitton to increase their prices without many people noticing. In a typical year you will see a minimum of 1 price increase and sometimes 2 from Louis Vuitton. Last year, I saw Louis Vuitton increase one of their most famous bags by 20%. I wish I could say I’m shocked, but honestly, most brands increase their prices every year and one of the reasons is because of inflation.
Where to buy Discounted Louis Vuitton Items?
Louis Vuitton never puts their iconic bags on sale. If you want to buy a discounted Louis Vuitton bag, then I highly recommend you purchase the bag off the vintage market. The vintage markets are flooded with LV bags that are in great shape and selling at a discount. My favorite places to buy Louis Vuitton bags include, Fashionphile and Rebag. These 2 places sell discounted authentic LV Bags. I would also check out the cheapest Louis Vuitton bags available for sale if you want a more affordable bag.
Final Thoughts on Louis Vuitton
I’ve been a big fan of Louis Vuitton for as long as I can remember, it was actually the first luxury bag I ever bought. I’ve had a great experience with all my LV bags holding up extremely well over time. I would love to hear in the comments what your thoughts are on Louis Vuitton being so expensive.
Sincerely Petite in Paris,
Diane