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The luxury French brand has already updated the prices on its Chinese e-commerce platform and across its physical stores.
Louis Vuitton’s decision to lower the price of its products in Mainland China comes after the Chinese government announced it would reduce import duties on consumer goods, effective from July 1, 2018. Price cuts on various products are reported to range from CNY300 (US$45) to CNY1,500 (US$226), an average reduction of 3% to 5%.
International luxury goods in China have often been sold with higher price tags and the Government’ policy aims to boost domestic consumption. The import duty reduction is said to concern 1,449 different categories, including luxury, fashion and beauty, among others.
Source: Jing Daily