Will the Luxury Bubble Burst? | Louis Vuitton Price Increase?

Today we're taking a look at the Luxury Bubble and asking ourselves: will the luxury bubble burst? After the rumors were swirling a month ago regarding the Louis Vuitton Price Increase... it never came. LV in North America slipped 1% in sales for the second quarter, which may be why they cancelled the Louis Vuitton price increase. Let's dive in and really find out why.
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This year I'd love to add more pieces from Hermès like the Birkin size 40, Constance, 24/24 and Bolide. Maybe I'll be bad and get an Hermès Kelly 40! I also recently fell in love with the Chanel Jumbo- so that's kind of a must-have for my collection, along with a Chanel Mini Rectangle and a Chanel Reissue. Aside from those, I'd love to add a few more Fendi Peekaboo bags to my collection along with a Fendi Baguette. Make sure you subscribe to see what I buy this year!
If you're into channels that include luxury fashion, shopping, luxury unboxings and reveals, luxury travel, and daily vlogs- basically anything that has to do with life and style, then this is the channel for you! We'll often talk about my collection which includes Louis Vuitton, Balenciaga, Gucci, Fendi, Hermès, Coach and YSL. We'll also look at current trends and upcoming releases from each of the houses.
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[@CalebSnell]

What do you think? Could we be on the verge of the luxury bubble burst?

[@ZaneAnderson1]

Would be nice if they did come down 😅

[@juliee888]

I don't think Chanel is trying to beat out Hermes since Chanel is aesthetically different than Hermes. Personally, I don't think aspirational shoppers will keep the lights on for these luxury houses. During the pandemic, there were stimulus checks, so these luxury houses saw an increase in sales bc some people had extra money to spend and no where to go. Now, no stimulus checks and cost of living is high, so these shoppers are not going to be spending their hard earned money on 'want'. It's really the clients that can drop $5K, 10K, or etc. per transaction, on a consistent basis, that will keep the lights on for these luxury houses. 🍊still very tempting, so still shopping.

[@VivienneConnolly11]

Great video Caleb

[@robind2727]

For me personally, my rent went up last year $240/mo and is now going up another $110/mo. That coupled with the overall cost of living has put a squeeze on my household. Thanks corporate greed. Unfortunately I need to focus on paying off my car and things like that before I embark on a luxury purchase. And to what you said about us having our fill, I think that may be a part of their lagging sales. Again the corporate greed and constant price increases (I’m looking at you Chanel) just put a bad taste in your mouth and give you that “I’m over it” feeling. Just my two cents for what it’s worth.

[@CalebSnell]

You made some great points, Robin. And you're so right about the constant raise in the cost of living. This coupled with lower quality and higher prices- I'm good!

[@ZaneAnderson1]

It was VERY interesting when LV didn’t have it’s expected price increase 😶

[@CalebSnell]

Right?! Agreed!

[@ingriddavis5707]

My 2 cents base on my own spending. Before the pandemic I own 2 luxurious bag including a Coach… suddenly I have this huge urgency to buy luxurious bags due to my media consumption… 3 year later I own over 30 bags including Hermès (Birkin and Kelly), Chanel, LV, Fendi and others… my pocket-savings are depleted, but I’m happy… however…. I’m not planning to sell my bags, but I don’t longer have space to buy 10+ bags per year. I still have a couple bags that I want… but I don’t longer have the urgency to buy them right away. Does anyone feel the same?

[@CalebSnell]

I feel exactly the same! Before the pandemic- my shopping was much slower, then during and after, I went crazy! But now I'm slowing down and buying only what truly appeals to me or I have space for in my life.

[@danielintheantipodes6741]

For me, it is not so much whether I can afford something, but whether I am prepared to pay for it. I would love a Kelly/Birkin, but I would prefer to aim for Europe. And then the Panama Canal. And then . . . you get where I am coming from! Other things impress me more. The bags now just cost too much for what they are. Thank you for the video!

[@artsandbarts360]

Spot on!🙌🏻

[@aprilshouseofflair]

Same! If I had to choose between a trip or a bag, I'm choosing the trip every time...then looking preloved for a bag

[@hunterphan5506]

I’ve read report similar to your story. Now that traveling (especially internationally) is back, people spend money on that as opposed to luxury goods.

[@CalebSnell]

Great point, Daniel! I'm in the same boat these days, I'd rather be travelling I think!

[@iamjholloway]

Ya know… I think it’s multiple factors. The main issue, imo is the increase of everyday living and pay not really matching. Many are in a place of rent or LV bag, so it seems. Also, the companies reporting on losses or lack of growth ignore the public when it comes to quality issues. Why spend 1k on something that many have said will fall apart in 6 months. For me, my spending has slowed down because I pretty much have everything I want. Great video! Thanks for sharing 😊

[@CalebSnell]

You're very right about that, J! Just living is so expensive these days! And quality issues are certainly playing a part in all of this too. I'm just going to slow down and only buy a couple preowned bags a year- I think lol

[@minneapaulis]

My spending has slowed down for bags and stuff as I’m actually selling a few bags and have sold a few already. Albeit my collection is like 10 bags, I’m down to 3 designer ones and I’m ok with that I think when I first started following and first got on my bag love, I wanted to buy buy buy but now I’m learning that it’s EXPENSIVE but also I’m learning what I use and what I dont

[@CalebSnell]

That's a good point, Paul. And I'm definitely slowing down on my purchasing as well. And it's important to learn what works and what doesn't.

[@agentbagreviews]

I have seen some pre loved LV prices decreasing to be honest! Especially with IG resellers

[@CalebSnell]

I agree- I think the preowned market is slowing down a bit- which is great for me! haha

[@janetr5929]

I have many reasons for the halt in my luxury bag spending. I’m newly retired so spending a lot of time at home. My money is going towards travel and home improvements. I’ll be in Hawaii this spring and I’m waiting until then to buy a new bag. I’m looking at Fendi right now or maybe Dior. Chanel lost me with their insane price increases. I do have a fashionphile bag arriving tomorrow but my last preloved purchase was December of 21. I’m not seeing any new LV that tempts me. I’m going to start branching out into brands like Ferragamo. Their quality is excellent and their prices reasonable for the quality and beauty of their bags.

[@CalebSnell]

Congratulations on your retirement, Janet! I hope you're enjoying it so far! And it sounds like you have some great plans regarding your new bags. I hope you're having a great week!

[@Pinkbear20]

There is so much going on here in the U.S. that I do think spending will change. On Oct. 1 most people with student loans will start to have to pay them back. That means less money for everything else. We are dealing with increased cost for everything. This past year I am paying an extra $200 per month in groceries than previous years. There are jobs out there but they're probably not the ones that put you in luxury spending status. Also, there are increased crimes. A lot of stores are closing in San Francisco. I just wouldn't want to be a target. There is just so much going on that wearing/paying for an expensive bag is not worth it.

[@seeyounexttuesdayweld5344]

so true! i sold a number of my bags because i just don't feel safe carrying them anymore. people have nothing to lose in a lot of places.

[@CalebSnell]

Oh gosh... student loans. I'm not ready! The cost of living is getting out of control, and with that, I think many Americans will start passing on discretionary spending like luxury goods. Also, the crime is on the rise, and I'm noticing that I'm less willing to carry out my "nicer" bags.

[@birkinboy3976]

Hey Caleb, look I absolutely love to shop and yes I have slowed down with my spending. I used to shop at least every other day and still could if I wanted to I’m just becoming somewhat disgusted by the prices of items especially when the quality doesn’t warrant it. I have no problem dropping serious coin if it’s something that I want but 10,000 and up for a bag is starting to really bother me that’s what most people pay for their first car or less so like you said they’ve got to come back to reality and it’s not just luxury it’s everything the corporate greed has to slow down. As the saying goes what goes up must come down.

[@CalebSnell]

You're so right about the prices not matching the quality. And I'm hoping we see some decreases coming soon!

[@Smilingcats_couture]

Great video and topic! I’m just glad I had my fill of the boutique experiences, I now prefer preloved on handbags. I’ll still buy new accessories and slg’s but that’s about where I’m at.

[@CalebSnell]

I completely agree- I'm sticking to preowned for a while now.

[@asirf.3634]

Second hand chanel pieces are falling down in prices like crazy in my region. Seasonal pieces that still have the protective stickers on are selling for $1.3k usd, but gucci's second hand prices are somewhat increasing?

[@CalebSnell]

That's really interesting to hear! I wonder why that is?

[@lisatakeitorleaveit]

I definitely believe we are in the downslide. Personally, when it comes to Lvt and Gucci, I really believe part of the major problem is the counterfeit market. I think the fact that there’s so many bags that are so I heavily copied really discourages people like me from buying the real deal. I don’t buy fakes, but I’m not about to buy some thing that the market is saturated with fakes. I’ve sold off most of my Monogram collection except for unique bags that aren’t copied. I also think quality is an issue.

[@CalebSnell]

You make some really great points there, Lisa! And I agree, I'm less likely to purchase monogram bags these days because of that reason.

[@Whatif211]

I am back to taking several trips a year. I had so much money in 2020 just sitting there and I was really bored, too! 😂

[@CalebSnell]

Right!? I think that's really what it is- people are back to travelling and being out and about.

[@WyeChengChong-ql7lr]

They increased the prices in Australia twice! Once on their leather goods (not canvas) then a general increase of 5% across the board!

[@CalebSnell]

Holy cow- that's a lot of increases!

[@victoriagb7634]

American maybe didn’t but Australia was hit with a 5 percentage increase in August

[@AnUrbanGypsy]

I was just about to say that prices in here in Australia certainly went up because I bought a key pouch and it cost me $20 more than it had been the day before!

[@CalebSnell]

Yikes, that's a big jump!

[@CalebSnell]

@littlerockapotamus- that's crazy, the manager should have matched yesterdays price for you!

[@nikkithompson1980]

The LV price does increase in Australia on the 1 August and many other Asian countries. And I am sure Europe have alot price increase this year and last year. American didn't get hit because American dollars are so strong atm. Like we never see American dollars almost the same as Euro. That is why only the country didn't get hit in the USA.

[@CalebSnell]

That's a very good point, Nikki!

[@tara_nguyen]

Is something going on with your audio? It sounds really soft/low/inaudible.

[@CalebSnell]

Hmmm- I don't think so?

[@tara_nguyen]

@@CalebSnell your dialogue audio seems to be softer than other videos on YT.

[@bondanoz]

LV Australia definitely had a price increase in August (about 4%)

[@CalebSnell]

Yikes! That's too much!

[@stephaniee.nicolee]

Honestly, I think I just had my fill. LV is one of my favorite fashion houses but they have so many bags coming out and I can't keep up. I really have been loving the pre-love market. I am still able to get great bags at better prices. Personally I am saving for a home for when the housing market gets better in the US and I rather have those extra funds to get a bigger and better home. I also been into travel and rather spending money on that. Great video!

[@carrino15]

Love your outlook and clear goals. Very inspiring and i am on the road to try do the same ^^

[@stephaniee.nicolee]

@@carrino15 awee thank you 😊

[@CalebSnell]

Hi Stephanie, thank you! And it sounds like you have your priorities in check, that's awesome! And you're so right- LV just turn-and-burns new product constantly- I couldn't even tell you 10 bags that they're currently making lol!

[@DailyLifeWithJoAnne]

The Monogram Mini Pochette Accessories is now sitting at $745. This price is now much higher than it was when the bag was first introduced. However, I've seen reviews saying it's still worth it at that price. Do you think that price is good for such a small "bag"?

[@CalebSnell]

Hi JoAnne! I remember when the PA was about $300 and since it's now more than double that price and nothing has changed- I have to say it's not worth it. I struggle accepting LV prices, because at the end of the day, the monogram is just PVC coated canvas, unlike a luxurious leather or handmade quality. But if someone love the PA and wants to get one, I fully support it!

[@doviemeh]

Nothing surprising if LV increases their prices multiple times a year but I am hoping they are not so blind to see that consumers are shifting their spending priorities so they need to stop being so greedy. People get motivated to save up for their dream bag only to get crushed by another price increase. I was thinking of buying that new Bvlagri 75th limited edition bag but am I willing to drop 8k on it? No. 😅

[@CalebSnell]

That's a really good point, Dovie. The prices at LV are already just out of reach for so many, and they just keep moving the finish line with these increases. It's a vicious cycle.

[@5ftNothing]

We've had price rises here in Oz but that's a price adjustment due to the weakness of the Ozzie dollar. We're in a 'per capita' recession here but that's not the same as the whole country being in recession. I might take my accountant's hat off now before I send everyone to sleep 🙃🤣

[@CalebSnell]

Hahaha, "accountant's hat" I love it!

[@deb4503]

Great point about Coach.

[@CalebSnell]

Thank you, Deb!

[@beckylou89]

For me, my discretionary spending has remained the same but I'm trying to be much more picky with what I buy. I'm in the UK so its super easy to travel to Europe - so a lot of my money has gone on that this year instead of saving for any more high end handbags. I have however bought into more of the middle market - Coach, Longchamp etc where I feel like I'm getting quality for the right amount of money. I used to collect Mulberry, which are more popular in the UK but they have put their prices up by about 30-40% on some items and for me that's just starting to alienate customers because the quality doesn't warrant their products being well over £1k.

[@CalebSnell]

Hi Becky! I'm in the same boat with being pickier these days. And I also prefer travelling to just buying material goods. And I keep hearing the same thing about Mulberry prices and quality. I've never owned one, but the Bayswater has always appealed to me.

[@JoshuaAinsworth-t9q]

I’m fine purchasing from Coach. I find their quantity better than most Gucci and LV anyways. I also not a person who needs a bag just to look affluent. Personally I’d rather buy a 650$ bag than have to make payments anyways bc I’m not RIIICH

[@CalebSnell]

That makes total sense! 💯

[@jeanettenfreeland1408]

Hi there!! Caleb how are you enjoying the Roots Wallet

[@CalebSnell]

Hi Jeanette! It's great, thank you!

[@jeanettenfreeland1408]

Your welcome is the leather good??

[@penal7197]

Thanks for this honest review, you’ve hit it on the nose! I own several coach, and MK’s and other lovely pieces .I’ve notice the older ones are made better material wise and the newer no so good ! I’m not a person who is RICH however love me a nice piece ! I say this to say I wanted a Lois Vuitton for a while my husband gifted me one from a pre loved 🥰 site . I’m ok with that she was treated with love as I will do as well ! It was a comfortable price yet and can’t remember why after I received it is a bag like any other. Expensive eye candy to show you can afford it ?! As I’m getting half way my lives journey there’s other more important things to spend my hard earned money in, like memories travel & family! I just think over all as we get older those materialistic things become less important! I know for me personally I can’t see my self paying these now astronomical prices for a handbag 👜! Bless those who can !

[@CalebSnell]

Thank you! I agree, older bags are made so much better! And I also agree with you that there are more important things to spend money- like travel, memories and investing in the future. I hope you're having a great week!

[@bonniejohnsonbatten664]

Hey Caleb! Just came across your channel and I thought I would check you out and I love you! Everything you are saying is so true! I just got back from Asia! My husband bought a LV wallet at the store located in the Tokyo airport. It was priced lower then here in the USA and no tax! Of course our currency is already at $7-$8 compared to $1 US. I know I didn’t word this correctly but I can’t remember the multiple zero currencies in Hong Kong, Singapore,etc. When I asked someone who spoke English how much a little, stuffed cat was, I was relieved to hear it wasn’t really $3,400 but something like $3 US dollars..😂 I have a wish! I spent 10 days on a Royal Caribbean cruise and they were selling Louis Vuitton handbags, Chanel, Gucci and some other handbags and wallets in one of their stores. This is a first for me because my family are Diamond Plus members because we’ve been on over 45 cruises that have been all over the world. So, these bags looked brand new! (Obviously, if you’re familiar with cruises and the merchandise they sell, high end brands to them have been Coach, Guess and Kate Spade… barf) So my husband bought me the Damier Ebene Neverfull MM bag for my birthday! I have always wanted that particular style, and he bought me Gucci and other LV styles, always what he liked and not what I wanted…anyway, the price was $1995.00. I don’t know what the retail price is for that style at the LV store, but there was a tag on it from “What Goes Around Comes Around.” so then, I start reading their tag and the words “Pre-Loved” is printed in bold. WTF, Caleb???? I got a “used” bag from an expensive cruise line that marks everything up 50% it seems. The bag is flawless and beautiful. There isn’t one mark or stain on it. So I quiz the woman who was working in the store and she explained that they have a team of people that go out and hand select used, discontinued, collectors, etc. high end brands and then pass them over to a handful of Royal Caribbean ships that sell them for the type of passengers who are most likely to buy them. Jump ahead a week and back in the US, my son and I ran into the mall, and I’m walking through Dillards and there is the LV bags from the SAME company, “What Goes Around Comes Around.” I realized that a brand new one like I got is $2030 in the LV website. Am I being a spoiled, out of touch Karen? I think it’s the stealth sneakiness of it all… I actually bought the story that some heiress who died had multiple versions of multiple bags and that’s where mine originated. Secondly, I don’t believe this is helping LV because they make their profits off customers buying directly from them. Especially if it’s the SAME DAMN PRICE!!! The only other way to look at it is maybe they are floundering and have turned to alternative sources to increase sales. But my own comment doesn’t make sense because if was already sold to the dead heiress, that was the sale. Plus. I didn’t get the original dust bag, authenticity card and the little bag that is supposed to come in it. I love my bag, I appreciate my husband having good taste, but what gives with this company?

[@CalebSnell]

Hi Bonnie! I'm so glad you found me, and I hope you're enjoying my videos! It's funny that you bring this up, because my husband's mother found herself on an RC cruise in a boutique just like this one. She had me on FaceTime, and I was astounded at the pricing. Even though she really wanted a bag and I knew she wouldn't like the answer, I told her absolutely not! And thankfully she listened. It's crazy how they're able to charge such high prices for them on those cruises. Even though it was a high price tag, it sounds like your Neverfull was in great shape, so I hope you're loving it- it's a great bag!

[@epatterson1504]

Yes, buying luxury items is no longer enjoyable or affordable. The quality continues to decline and the price continues to increase.

[@CalebSnell]

You summed it up, and it's such a shame too! I'll stick to preowned until things hopefully improve.

[@Brian.lungwarrior]

Great video, guys!

[@CalebSnell]

Thank you so much, Brian!

[@BrockStarNo5]

Extremely interesting topic. CHANEL is killing me… 🥴 I can’t wait for tomorrow’s livestream! ✌🏻

[@CalebSnell]

Right?! These prices are insane!

[@daliaa5294]

The designers no longer want to make $1k-2k bags anymore. I am no longer addicted to luxury. The prices are just too high

[@CalebSnell]

I agree- I can't keep up with the new prices.

[@YosheaLux]

High end bag are not going to be affordable for me eventually. I purchased 3 high end bags this year. My 😢hubby and I are going to be retiring in 2 1/2 years. So I’m going to want to send my money on traveling. Can’t wait

[@CalebSnell]

I couldn't agree more- I prefer prioritizing travel over material goods any day. I value the memories and stories more than material objects I think.

[@DeeDee_Bean]

Thanks for sharing your thoughts and opinions great as always 👛🛍️🙏🚢

[@CalebSnell]

Thank you so much, Dee Dee!

[@corikay]

Hi Caleb and Zane! I’ve already thumbed up!!!! 👍🏼👍🏼👍🏼

[@CalebSnell]

Hi Corikay! Thank you!

[@devincristopher3]

good evening caleb🦋🖤🦋

[@CalebSnell]

Hi Devin!

[@foodandlipstick]

The Britney Gimme More reference tho 😍👌🏻 However, I’m not sitting here concerned that Bernard Arnault isn’t reporting as high of a sales growth or profit. It is what it is. It’s literally too expensive to simply exist these days, and I say this as a luxury lover.

[@CalebSnell]

Haha right!? You're so right about it being too expensive to just exist. It's getting pretty expensive these days.

[@Elizabeth_lowkeyluxuries]

Everything is going up and I'm just saving for retirement (Gen X). I might look at a preloved Chanel, Hermès or Dior handbag, but i already have items from their houses so it's not a priority. I'd rather buy new with an upcoming designer at 10% of the price but 90-100% quality. Have fun but keep MY house straight.😂😍

[@CalebSnell]

That's a really good plan, Elizabeth! And some up and coming designers have better quality and designs for less than a fraction of the cost at the big houses!

[@Elizabeth_lowkeyluxuries]

@CalebSnell yes! I also say this because I don't live near a Chanel boutique so that helps tremendously 🤣😂🤣

[@krisabbott6784]

Caleb. Excellent point I think the economy has a lot to do with it. I know a lot of people are not buying like they used to. And you see so many people Carrying Lv. That they just lost some of there prestige. And you know I must say the bad word. So many fakes out there. I think that might not be helping. Excellent video.

[@CalebSnell]

Thank you so much, Kris. I agree with the points you made, and I think that's a good explanation for part of the problem!

[@am143-g1m]

I love Louis Vuitton, is my favorite! I feel good wearing my LVs and I love their canvas and leathers. But I love LV from the past because the quality from the past was much better. I´m not a supporter for luxury cracks and peeling, so I only buy from second hand stores. The durability and luxury of the bags it´s still intact. I have a new 20 years old LV and it´s almost like new. I have a bag for an entire life to enjoy! Now the bags are flimsy and cheap looking. It´s a shame!

[@CalebSnell]

I also love vintage LV. The quality was so much better, and now that they're on the preowned market, they're so attainable. I hope you're having a great week, Edgar!

[@am143-g1m]

@@CalebSnell thank you, you 2. You are so sweet!

[@Aidanw189]

All good I’ll just spend my money at Gucci and Dior atp they’re like half the price of LV

[@CalebSnell]

Good idea!

[@saraimran12]

Even if I technically can dish out 5K CAD for a small Loewe puzzle bag, it makes me sick to think that only a couple of years ago that bag was around the 2K mark. As other fashion houses have increased their prices a ridiculous amount, the rest have followed with drastic decreases in quality. I'm just not ready to burn money on something that's not going to last me a lifetime without falling apart. Technically we have more advanced technology so we should be making better quality but instead we are supposed to accept these michael kors levels quality of bags as LUXURY??? I still WANT certain bags that are on my wishlist because I so badly wish I didn't because I think logically you would have to be an idiot to purchase them. Happy to announce, I found out I'm an idiot! 😂

[@CalebSnell]

Price increases are insane! And I'm in the same boat- I refuse to buy a bag that's nearly triple the cost now as when it first came out. And the decrease in quality is laughable as the prices sky rocket. Hahaha, I think I'm an idiot too! 😂

[@MsShell1125]

The increase is to stop certain people can’t afford it. I bet if the certain people stop buying it it will be a changed.

[@CalebSnell]

I think you're spot on!

[@kaylheecarroll3186]

This isn't shocking, it's routine now

[@CalebSnell]

Sad but true!

[@kaylheecarroll3186]

@@CalebSnell yep!

[@SummerofKittyLove]

LV and Chanel falls apart in a short time and the metal hardware wears off and tarnishes! Unbelievable!!! 👎👎👎

[@CalebSnell]

Right?! I'm so over it all!

[@thomastalks3841]

Who $650 for a new lv bag! Before I got in the game

[@CalebSnell]

OMG- if only I had a time machine!

[@Restless318]

I think the younger people do care for LUX most do even want to drive even with coach it you do not see see young people in stores and so many new bags from everyone it overing welling for me even at coach

[@CalebSnell]

That's a great point, Hamid!

[@raquelmiller685]

During the pandemic people were bord and and had no else to spend money

[@CalebSnell]

Exactly- I think that was a major part of it!

[@ajlajkitbre]

I HOPE IT WILL!!!!!!

[@CalebSnell]

Hahaha- same!