Today, a fashion industry information and other hit the hot search list, #LV boss is bullish on luxury market due to the return of Chinese tourists, successfully attracting everyone's attention.
On January 26, Louis Vuitton's parent company, LVMH, said it remained optimistic about the year ahead after Chinese consumers returned to stores following the return of Chinese tourists. Bernard Arnault, chairman of LVMH, said there was good reason to be confident, even optimistic, about China.
Take Hong Kong, where retail rebounded strongly over the Chinese New Year holiday as anti-epidemic policies were optimized and customs clearance resumed, with long lines at the doors of luxury brands such as Louis Vuitton, Dior, Chanel and Hermès, with some shopkeepers revealing that most consumers were tourists from mainland China. Jones Lang LaSalle previously predicted that overall rents for premium retail space in Hong Kong will rise by 5% this year, and rents for retail street stores will rise by 15%.
It seems that the whole world is waiting for the Chinese to return and start the buy-buy mode!
And just at this stall, LV is going to announce another price increase? According to sources, Louis Vuitton will increase the selling price of its global products from February 18, and the range will be between 8% and 20%. It is worth paying attention to the fact that this price increase is only less than two months from last December. Louis Vuitton is the highest-valued luxury brand in the Brand Finance's Top 500 Global Brand Value list for 2023, ranking 70th overall.
LV has claimed that the price increase is in response to changes in the global business environment such as increased costs of raw materials, production, international logistics and inflation.
If the news is accurate, this will be the first price increase for LV going into 2023, so let's keep watching.