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Why are Louis Vuitton bags cheaper in London?

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The firm's iconic Speedy 30 model costs about 800 euros

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London is the city where you can buy the cheapest Louis Vuitton bags. Since the United Kingdom celebrated Brexit, the pound has fallen 17% more than the dollar, causing the products of luxury firms to be sold at much cheaper prices compared to other countries.

¿Por qué los bolsos de Louis Vuitton son más baratos en Londres?

A Deloitte study for The Wall Street Journal has revealed that, since last October 7, the iconic Louis Vuitton Speedy 30 model costs 645 pounds ($802) in London, while in Spain it costs $1,095, in Paris $850, in New York $970 and in China $1,115.

The spokesman for the consulting company, Nick Pope, has pointed out that since the referendum, Great Britain is going through a "more affordable period" and this past July it received 3.8 million visitors (2% more compared to the year above), especially Japanese and Chinese who spent a lot of money on luxury brand items.

“The pound's decline has caused more of these expensive brands to be bought. People don't like to pay more for the same bag that has a much lower price here, ”he says.

The study reveals that 64% of the prices of the different items that have been compared with other countries now have a lower cost in London, so it is expected that there will be an increase in tourism in the coming weeks.

Pope also explains that this unprecedented situation in Great Britain will not be permanent, since several luxury firms are raising their prices. “If 6-12 months from now the pound's position becomes 'normal', and margins remain under pressure, I would expect more firms to respond with price adjustments,” he says.

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