Louis Vuitton makes second price increase in Japan in less than a year

The Japanese unit of French luxury brand Louis Vuitton has confirmed it will raise prices for leather items such as bags and wallets by an average of 8 percent effective July 1, reflecting the yen’s steady fall against the euro.The price hikes announced Friday will be the second this year by Louis Vuitton Japan Co. In February, the company increased the prices of leather and other items by 12 percent on average, citing the yen’s depreciation versus Europe’s single currency as well as rising materials costs. The new price hikes will be implemented because of the yen’s continued weakness against other major currencies, the firm said.

Louis Vuitton store in Takamatsu, Japan