Louis Vuitton, the French fashion house are set to raise prices for its luxury items in the South Korean market, allegedly in a bid to take advantage of a prospective surge in buying following the coronavirus outbreak.
Poor exchange rates and the closure of production facilities in France and Italy may have contributed to the brand’s decision to raise prices, although some consumers remain suspicious that the price rises are timed to take exploitative profits from coronavirus-related restrictions.
“We have decided to raise the prices starting on May 5, it was part of our pricing policy based on the long-term view.”
