with customers being asked to pay about 15% more. This comes after the company’s revenues declined 18% in 2020. A recent Bernstein “untapped price increase reservoir” industry report identified Rolex, Dior, Prada, Gucci and Louis Vuitton as brands that had raised prices.
The analysis found that the pricing of luxury bags had increased at twice the level of the broader consumer prices index over four decades.
The most desirable brands had translated growth into increasing prices quickly in what Bernstein called an “unrealised pricing upside”.
Bernstein analyst Luca Solca said: “Most luxury brands increased prices during the pandemic in the attempt to cushion the impact of lower sales.
Read more on msn.com
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