If you’re in the market for a new Louis Vuitton handbag (aren’t we all?) then we suggest you book a plane ticket to the United Kingdom pronto, as new research by Deloitte has revealed that many luxury goods are now cheaper in Britain, thanks to the weakened pound following #Brexit. To give you an idea, it’s dropped over 17 per cent against the dollar since June.
The main item with the biggest price difference is the Louis Vuitton Speedy 30. In London the bag costs Dhs2,945, whereas in Paris it costs Dhs3,122, in New York, Dhs3,563, and Dhs4,095 in China.
The percentage of luxury goods that are cheaper to purchase in the United Kingdom has risen to a huge 64 per cent, resulting in increased tourism. “The trend in luxury pricing in the UK is being driven mainly by the depression in sterling – thus making the same item more affordable in the UK market than any other major luxury market. People don’t like paying more for the same product,” Nick Pope, the head of fashion and luxury at Deloitte, told the BBC.
So if the Speedy has been on your to-buy list for a while and you’re yet to get around to buying it, there’s really no better a time than now to #treatyourself.