Photo: Courtesy of Louis Vuitton.
For decades, Louis Vuitton's monogrammed canvas bags have been the brand's most ubiquitous asset. In our humble opinion, they were pretty much the status symbol of the early and mid-aughts. But, now, in an attempt to compete with more profitable luxury brands, the French fashion house is upping the handbag ante in a major way.
According to WWD, LVMH's CFO Jean-Jacques Guiony announced in a conference call that the company is beginning a shift toward higher priced accessories with higher quality materials (leather, leather, and more leather!). In short, Louis Vuitton is trying to be more like Céline and its enviable luggage totes.
The brand has already had success with two different high-end totes, the new W and Capucines purses. They were featured prominently in the new ad campaigns fronted by Michelle Williams and ring in at a whopping $3,380 and $4,730, respectively. Vuitton is still finding itself underperforming compared to the Célines and Givenchys of the fashion world, but LVMH execs stressed that the switchover to higher priced items is a slow and steady process. Either way, it's now going to take a lot more moola from your piggy bank to nab yourself a Louis Vuitton. (Women's Wear Daily)