Louis Vuitton bags to get even MORE expensive as luxury fashion giant raises prices by up to 12per cent

Louis Vuitton has raised the prices on its best-selling monogram accessories by up to 12per cent. Antoine Belge, an analyst at HSBC, revealed the cost increase applies to non-leather goods such as the popular canvas versions of the Speedy handbag and Neverfull tote. LVMH, the luxury brand's parent company, introduced the price hike across its main markets at the beginning of the year in an attempt to keep on top of sliding currencies. Pricey accessories: Louis Vuitton has raised the prices on many of its best-selling items by up to 12per cent - pictured is the Speedy handbag (left) and Neverfull tote (right) According to analysts' estimates canvas items make up about two-thirds of Louis Vuitton's total accessories sales. Price increases of around ten per cent were spotted in the euro zone, and of ten per cent or more in the UK and in the U.S. over recent months. It also noted hikes of five to ten per cent on the same goods in several Asian markets including China, Hong Kong, Taiwan and Singapore. Japan was the first to feel the pinch. On February 15 prices were upped by about 12per cent to account for the yen plummeting to a three-year low against the dollar and the euro. A spokesperson for Louis Vuitton explained to Bloomberg at the time: 'We are an importer, so the weakening yen and rising raw material prices are part of the reason for the price increase.' Analysts said the higher prices are unlikely to drive away its most loyal customers, who often don't check price tags before they buy.

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