Louis Vuitton Raises Price of Neverfull GM Bag in the United States

Louis Vuitton (LV) has increased the US price of the Neverfull GM bag in response to the 10% tariffs on imports from the European Union.

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Bloomberg indicates that the popular bag underwent a 4.8% price increase compared to the previous week. The Neverfull GM is currently priced at $2,200 USD on Louis Vuitton's US website, reflecting a $100 USD increase.

Bernstein analyst Luca Solca reported that LV US increased their handbag prices by 3.6%. Nevertheless, he also indicated that some things were omitted from the price escalation due to their potential production in one of LV's three workshops located in the United States.

Representatives from Louis Vuitton and LVMH have not provided any commentary on the issue.

Bloomberg reports that luxury firms, such as LVMH Moët Hennessy Louis Vuitton SE, have previously declared their intention to raise prices of their products to offset the tariffs imposed by the United States. CFO Cecile Cabanis indicated that the plan will affect each brand and product in distinct ways.