Daily Mail
Want Angelina's bag? That'll be £3,000...and a very long wait: Louis Vuitton loses chav image as celebrities' Capucine bag becomes a must-have
By Sean PoulterPUBLISHED: 14:35 GMT, 16 September 2013 | UPDATED: 18:05 GMT, 16 September 2013
It comes with an eye-wateringly expensive price tag of £3,250 but Louis Vuitton's latest it bag is already a sell-out success.
Launched in June and seen on the arm of some of the world's most beautiful women, including Angelina Jolie, there are already long waiting lists for the Capucine.
Whether you are the wife of a Russian oligarch, a British banker, Hollywood star or a new millionaire from China's tiger economy, there is no escaping the queues.
Whatever the truth, a snapshot survey suggests there are genuine waiting lists among women who want the latest 'It' bag on their arms.
On New Bond Street in London, there was only one sample bag with a ‘not for sale’ sticker on it and 40 people had already reserved one.
However, assistants at the Vuitton shop said the bags were unlikely to be available until the end of the month at the earliest, and only in small numbers.
The picture was similar at the Louis Vuitton shops in both Paris and Milan.
A-list fan: Angelina Jolie has been spotted with a Capucine
Waiting list: There's currently only one of the Capucine bags displayed as a sample in Louis Vuitton's London's New Bond Street store
Shop assistants said they took delivery of only a handful of the bags every other week over the summer, intimating Louis Vuitton may have deliberately caused the shortage to create a buzz around the product.
It's also currently listed as out on stock on the fashion house's website.
The Capucine is part of the collection known at Louis Vuitton as Parnassea. It takes its name from the rue des Capucine in Paris, where Louis Vuitton opening his first store in 1854.
It is made from Taurillon leather, a highly prized and crafted leather from Swiss cows. The same material is used by rival Hermes for its own 'must have' handbags.
The Capucine comes in two sizes, medium, which is available in nine colours from a vibrant red to a turquoise blue, which costs £3,000, and large, which is available in two colours, at £3,250.
The Capucine is six times more expensive than Louis Vuitton’s £500 signature canvas LV-embossed bags with which the brand built its name and profitability.
Bernard Arnault, the boss of parent company LVMH, said in January that Louis Vuitton planned to prune its portfolio of canvas bags, which make up two thirds of its business and generate gross margins of 90 per cent
Analysts expect gross margins from leather bags such as Capucine to be slightly lower.
Jolie's must-have: The fact one of the world's most beautiful women has the bag makes it even more desirable to fashionistas
Hard to get: The bag comes in a variety of colours but is currently unavailable to buy via the fashion house's website
How to wear: Angelina demonstrates how the bag can be worn with the distinctive flap tucked in for easier access, left, or folded over the top
Vuitton appears to be trying to emulate the marketing strategy of Hermes, which is known in the luxury world for its shortages and waiting lists, particularly for its high end Birkin and Kelly bags.
Exane BNP Paribas analyst, Luca Solca(correct), said: ‘I take it as a very positive sign that the Capucine bag is sold out.
'Louis Vuitton had to work on its exclusivity perception and creating products for which there is high demand and not enough volume to satisfy everyone, certainly helps.'
