A retail analyst said: '[Luxury] brand goods have low price sensitivity. People who buy those brands won’t be so frugal as to care about another 10,000 yen.'
The New York-based website Mizhattan reported the U.S. price hike in February. It stated: 'Chances are, if you have a strong and loyal relationship with a [sales assistant] at Louis Vuitton, you may have already heard about the company's upcoming price increase in the US market.
'Louis Vuitton employees started discreetly alerting their VIP customers that the powerhouse brand is planning to increase prices starting Monday, February 18th.
'My own source at the flagship boutique informs me that LV lovers should expect to see a 5-7% hike on almost all items that the French luxury house has to offer.'
Analysts said that shoppers can expect to see small hikes on most products and prices will remain 'unchanged prices for most leather bags'.
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