Would you pay $31,500 for a hyper-luxe Louis Vuitton handbag?
The new line of bags are a far cry from the monogrammed leather pieces that the company is widely known for - and that have hit a global saturation point over the last few years. The collection, which includes bucket bags, top-handles and shoulder bags in materials like alligator skin, Swarovski crystals, and peacock and pheasant feathers.
In an October issue of WWD, Vuitton CFO Jean-Jacques Guiony addressed the challenges of this new endeavor, saying, "The big challenge is mostly on the supply of quality leather, which is a scarce resource." But another challenge in retail will surely be the high prices. Vuitton has brought on a new accessories designer for the project, Darren Spaziani - formerly of Balenciaga and Proenza Schouler - who has been tasked with bringing exclusivity back to the brand.
The hope of this new direction is that it will both increase the brand's sales - which have been steadily on the decline - and target the luxury customer as opposed to the "masstige" market, and these prices will certainly weed out mid-level shoppers. As of now, the new, more expensive bags are not sold online - only in Vuitton's brick and mortar stores. But, if you're making a purchase this expensive, wouldn't you want to see (and feel) the goods in person before you buy?
Head over to Louis Vuitton's website to see the full selection.
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