There’s an old saying about the only sure things in life being death and taxes, but if you’re a handbag buyer, there’s another inevitability: price increases. With brands like Chanel, Hermès and Louis Vuitton, they’re fairly easy to track; because the bags are only available from the company’s boutiques, all the new product arrives at once and sales associates warn their loyal customers in advance.
Price increases for the big brands all seem to be hitting around the same time this year, and that is not good for anyone in the market for a new bag. First we told you Hermès was upping its already steep prices in the beginning of the year, next came the rumors of the Louis Vuitton price increase, and now it’s Chanel.
Last week, I spoke with Chavie Lieber of Racked about Prada’s current profit woes, much of which are tied to the recent underperformance of the leather goods that make up roughly 40% of Prada’s business. Lieber also talked to PB contributor Pattie Rechtman, luxury shoppers and industry analysts, and we all more or less agreed: Prada needs to do something about its handbag offerings.
If your new year’s resolution included buying more Hermès handbags or accessories, then you might want to move some money between your accounts and make some power moves, because time is of the essence. Both users on our Forum and shopping site Mizhattan have confirmed that Hermès will make a significant price increase in US boutiques before the end of the mont, affecting almost all of the brand’s product categories.
Nicolas Ghesquiere is onto his second major season of agenda-setting at the new Louis Vuitton, and his dreamy-mod vision of 70s nostalgia has returned for the Louis Vuitton Spring 2015 ad campaign. Ghesquiere started revealing the photos, lensed by Annie Leibovitz, Bruce Weber and Juergen Teller (just like last season) on his personal Instagram account at the end of last year, and now the brand itself has added a few more official ads to the lineup.
The past 18 months have been a long, strange trip for Mulberry, and at least one part of that journey got an equally strange ending last week. On Thursday, while every sector of the American fashion industry (including the press) was roasting turkeys in their hometowns, the brand named Céline’s Johnny Coca as its new creative director.