LVMH's top fashion brand, Louis Vuitton plans to raise global prices to offset increased manufacturing and transportation costs. Price rise will affect Louis Vuitton stores selling leather goods, fashion accessories and perfumes worldwide. Chinese social media bloggers estimate, prices of few handbag models such as Capucines would rise by 20 per cent or more in China. Website tracking the luxury market, PurseBop speculates, the increase would range between 4 per cent on the lower end and 15-18 per cent on average on the higher end.

Luxury goods companies have been leveraging the benefits offered by the COVID-19 pandemic by increasing the prices of high-end fashion items and accessories. Chanel increased prices on some of its handbags three times last year, with the price of the Classic Flap bag increasing by over 60 per cent since the beginning of the pandemic.