It is needless to introduce Louis Vuitton to any fashion pundit of the 21st century.
But, luxury is a hard-to-ignore aspect of a giant fashion brand like Louis Vuitton. In addition to being classic and sleek, an irrefutable attribute of LV handbags is their cost, as they are known to be very, very expensive.
Despite this, the brand – often referred to as the birth of the modern suitcase – has stayed afloat in its appeal to younger, affluent audiences.
With over 150 years of manufacturing, why does the cost of their bags continue to drive upward in thousands of dollars?
While the answer to this question is evident from the brand’s prestige and position in the world’s handbag market, several factors are ever-present to ensure that the price of original Louis Vuitton bags remains friendly only to those who can afford it without batting an eyebrow.
Generally speaking, Louis Vuitton bags are so expensive because they provide some of the best high-quality bags globally. Apart from this, the french brand has a bespoke luxury heritage and boasts of selling prestige, status, and exclusivity – not just the item purchased.
The increasing level of consumer demand supported by a rampant loyal customer base and influence from celebrities’ usage of the bag is also a considerable reason why Louis Vuitton bags are so expensive.
In the rest of this article, we’ll take a closer look at these reasons to see how they are rapidly influencing the cost of LV bags in the market. More importantly, this will usher us to an outcome of a decision on whether or not Louis Vuitton bags are worth buying or not.
Real reasons why Louis Vuitton bags are so expensive – Fully explained
1. Brand prestige
The brand prestige of Louis Vuitton alone raises its value to what people pay to get their products today, and much of these factors heavily lie on the brand’s powerful history.
In the same light, LV has maintained an edge over the rising level of competition through many production strategies, one of which includes working with selected professionals and experts in fashion fields.
These high-profile designers include Nicolas Ghesquiere, the women’s collection’s creative director; Virgil Abloh, the men’s wear collection artistic director and Off-White celebrity designer.
It sure will cost a lot to pay these established, famous, exquisite designers for their positive influence on the Louis Vuitton brand, not to mention the number of craftsmen who wait a lifetime and consider it a golden opportunity to be an LV worker.
Suffice to say; there are just three global giants in the fashion industry, which include Hermès, Chanel, and Louis Vuitton – a synonym of quality.
A simple economics law is that “the higher the demand and limited supply, the higher the price and vice versa”. This narrative has played out on a giant fashion brand like Louis Vuitton, and it has influenced the value of the cost of their bags.
Handbags branded with the iconic ‘LV’ monogram effortlessly wields stronger public appeal and opinion. This, coupled with the release of the limited edition, is a tell-tale reason why the cost of the item continues to soar.
There is always a buying frenzy for any newly released LV bag, and it has become a norm to act quickly if one intends to boast of owning the latest Louis Vuitton item.
As long as an army of fashion pundits is willing to pay top dollar for these handbags right out of the factory, the price will remain expensive.
It is impossible to decipher the phenomena behind the expensiveness of Louis Vuitton without considering its effective marketing and global campaign pull.
We have seen the likes of Sophie Turner, Chloë Grace Moretz, Kris Wu, and other influencers whom the brand partnered with to evoke stronger public appeal.
However, they aren’t the only ones who have posted photos of themselves on their social media accounts wearing the designer bag. This influencing pull attracts many to the prominent “LV” logo, raising the brand’s value and giving it more reason to charge more for its products.
4. Exclusivity in design
Interestingly, Louis Vuitton is not characterized by making its unique designs available in the markets. They major on exclusivity in their sales projections not just to manage wastage but also to keep the value of their items as high as it can get.
In other words, Louis Vuitton suspends production of a bag model once the item has reached its particular sales target.
This explains why some of their limited edition can be displayed with daring price tags of over tens of thousands of dollars. The Royal Wedding Petite Malle bag is a good example, with only 85 pieces in circulation.
P.S: It remains a question of great curiosity whether or not Louis Vuitton destroys extra produced bags once they hit an identified sales target.
Be that as it may, it is a need-no-introduction statement of high social class if one can get a real LV bag, limited edition, to be precise. This leads us to the next and final viewpoint on why LV bags are so expensive.
As mentioned earlier, LV does not sell just their items; they sell experience and prestige. Most people who prefer designer bags that cost thousands of dollars is probably not because they can afford them, but simply because it has the capability of reflecting their social status and luxurious tastes – just like cars and tuxedos.
The influence of status as a factor contributing to the drive of Louis Vuitton sales and prices will remain as long as handbags and other fashion accessories remain part of the vogue fashion ideals.
Is buying a Louis Vuitton bag worth it?
To encapsulate all that accounts for the prices of LV bags, one can put that buyers pay, not just for the item, but for flaunting the monogram logo, the high-quality and durable materials, and the best craftsmanship.
But are LV bags worth all the money? Does it measure up when placed side-by-side with other considerable rivals that are relatively less expensive?
Well, there is an undeniable assurance of durability and long-lasting vogue when buying a Louis Vuitton item that makes it sellable even many years later.
LV bags are known for maintaining their value, and that is why resale value is usually high and profitable. The bottom line, Louis Vuitton, especially their bags, is worth the money.
As we draw the curtain on this post, it is needful to highlight the factor of the insane level of counterfeit/fake Louis Vuitton bags that are constantly flooding the market.
A report showed, in 2018, that LV products accounted for the majority of the fake luxury products found on the market, making the brand the most counterfeited luxury brand globally.
This can be blamed on Louis Vuitton’s unchanging style that has remained the same for a century and a half, allowing for the creation of lookalikes. Due to this, the expensiveness of LV bags has become one of the indications to know whether or not you are buying an original item.
Above all, the reasons that revolve around the price of Louis Vuitton items are centred on the people who purchase them.
It has always been about the people. If there is anything that could reduce the value or cost of LV bags, it will be the buyers’ perception worldwide.
Frequently Asked Questions
Why do Louis Vuitton products cost more than other luxury brands?
Louis Vuitton is known for its iconic status and heritage in the luxury fashion industry. The brand invests heavily in maintaining high-quality standards, artisan craftsmanship, and exclusive materials, which significantly contribute to the higher cost of their products compared to other luxury brands.
What sets Louis Vuitton apart from other luxury brands in terms of pricing?
Louis Vuitton places a strong emphasis on handcrafting and limited production runs. Each product undergoes meticulous attention to detail and requires skilled artisans to create, resulting in higher labor costs and limited supply, which ultimately reflects in the pricing.
Are Louis Vuitton products worth the high price tag?
The value of Louis Vuitton products extends beyond the materials and craftsmanship. Customers also pay for the prestige, status, and history associated with the brand. Moreover, these products are often regarded as long-term investments due to their durability and timeless design, making them a worthwhile purchase for those who appreciate luxury fashion.
Do Louis Vuitton products hold their value over time?
In general, Louis Vuitton products tend to retain their value relatively well in the luxury resale market. Their classic designs, durable materials, and high demand contribute to their ability to hold value, making them desirable items for collectors and fashion enthusiasts alike.
Are there any options for more budget-friendly Louis Vuitton products?
Louis Vuitton occasionally offers more affordable options within their product range, such as small leather goods and accessories. Additionally, pre-owned or vintage pieces can be found at a lower cost, providing an opportunity to own an authentic Louis Vuitton item at a more accessible price point.