By Seunghee Suh. Photos by: Getty Images.
For travelers who’ve been mulling over the idea of visiting London, here is a simple piece of advice: Go now. And while you’re there, don’t forget to stop by Selfridges to get your hands on a Louis Vuitton bag.
According to a research by consulting and audit firm Deloitte, designer products and other luxury goods, including the much covetable Louis Vuitton handbags, now cost less in Britain in dollar terms than anywhere else in the world. The trend is linked to the Brexit vote in June, which has decreased the value of the pound by more than 17 percent against the dollar.
The report, which was prepared for The Wall Street Journal, states that a Speedy 30 handbag from Louis Vuitton now costs $802 as of Friday, October 7. That compares to $850 in Paris, and $970 in New York. In China, the bag is priced at $1,115.
The low prices are drawing in high number of tourists now that the country is a much more affordable destination in Europe. Travel bookings from the U.S. to Britain has increased 6 percent for the period between October and December compared to last year, according to VisitBritain, a British tourism agency. In July—right after the Brexit vote—the country experienced 3.8 million visits, which marked a 2 percent increase from July 2015—a new record for any month.
The affordable pricing has expanded to other luxury goods, as well. A Balenciaga Foulard Fringe Dress from creative director Demna Gvasalia’s pre-fall collection costs $1,312 in London, compared with $1,560 in France, $1,765 in the U.S. (and online), and $1,665 in China. Fans of Loewe will be happy to know that the brand’s highly ‘grammable elephant bag is currently priced at $311 in London—a steal compared to $380 in the U.S. Get your camera ready.
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This story originally appeared on Allure.
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