This Is The Cheapest City To Buy A Luxury Handbag Right Now

Photo: Christian Vierig/Getty Images.
In the wake of Brexit and the pound dropping more than 17% against the U.S. dollar since June, there's actually a silver lining for U.K. shoppers, or those traveling across the pond soon. Well, if you're in the market for a designer carryall, at least. If you live in London or happen to be London-bound, it's a pretty great time to invest in a designer handbag, according to The Wall Street Journal. For U.S. spenders, items from Louis Vuitton and other luxury fashion brands now cost significantly less in Britain than anywhere else in the world, per new research from consulting firm Deloitte. "The trend in luxury pricing in the U.K. is being driven mainly by the depression on the sterling," Nick Pope, fashion and luxury lead at the company, told the BBC. This, then, makes "the same item more affordable in the U.K. market than in any other major luxury market." Take, for example, the Speedy 30, one of Louis Vuitton's most iconic designs: It'll set you back €760 (about $850) in Paris, 7,450¥ (about $1,115) in Shanghai, and $970 in New York — but, as of now, it's priced at £695 (around $847) in London. (Earlier this month, the Speedy 30's price tag was even lower in London, going for £645, or $802, on October 7.) These lower prices extend to a number of other favorite luxury brands, such as Demna Gvasalia's Balenciaga and Jonathan Anderson's Loewe. To wit: A Balenciaga Foulard Fringe Dress retails for $1,312 in London, compared to $1,560 in Paris, $1,765 in New York, and $1,665 in Shanghai. The Loewe Elephant Bag, carried by every street style star worth their salt during Fashion Week, meanwhile, goes for $380 in the U.S. and $311 in the U.K. Has the comparative dip in high-fashion prices in Britain resulted in a surge in foreign luxury shoppers? In short, yes: The U.K. saw an influx of overseas visitors right after the Brexit vote, totaling 3.8 million trips, according to the BBC. That's a 2% increase from July of last year. Before you pack your bags and head straight to Bond Street, though, know that these cheaper prices likely aren't the new normal. "Luxury brands are usually — and rightly — cautious about en masse pricing adjustments," Pope explained. A few brands have already made amendments to their price tags in light of this currency shift — and more will likely follow suit. While prices are still down, though, we'll race you to the checkout line, if you're in or headed to Britain sometime soon.