If you’ve been waiting for the right time to shop for your coveted Louis Vuitton handbag, there isn’t a time better than now. According to the report, after the Brexit referendum in June, London has recorded a significant decline in pound sterling against the dollar, causing many luxury goods to cost less in dollar terms in the U.K. than in any other country.
The research conducted by Deloitte showed how the Speedy 30 Louis Vuitton handbag is $802 in London, compared with $850 in Paris, $970 in New York, and $1,115 in China. The report also pointed that the 64 percent of comparable luxury products are now the cheapest in the U.K., boosting the number of foreign tourists to shop without ceasing.
“The trend in luxury pricing in the U.K. is being driven mainly by the depression in sterling—thus making the same item more affordable in the U.K. market than any other major luxury market,” Nick Pope, the head of fashion and luxury at Deloitte, told the BBC. “People don’t like paying more for the same product.”
Getty Images
[otw_shortcode_button href=”https://twitter.com/fashionpolicing” size=”medium” icon_position=”left” shape=”round” target=”_blank”]Follow us on Twitter![/otw_shortcode_button]
