Angelina Jolie and Michelle Williams help Louis Vuitton regain their exclusivity as £3,000 Capucine bag becomes must-have

Against a tide of fakes flooding the market and to avoid being seen on the arm of anyone less than an A-list celebrity, Louis Vuitton have this year made a concerted effort to return to their roots as an exclusive designer brand.
And it seems their plan is working as their pricey new Capucine leather handbags are currently the must-have item in their stores across Europe.
Louis Vuitton boutiques in Milan, Paris and London have all reported shortages of the £3,000 Capucine bags since their launch in June.

Creating a buzz: Louis Vuitton launched the £3,000 Capucine bag earlier this year with the help of Michelle Williams

Each store has long waiting lists for the leather bag that comes in a variety of colours and features the designer's LV initials and monogram flower logo.

At the time of writing, London's New Bond Street store only had one sample bag with a 'not for sale' sticker on and 40 people had already reserved one. But the bags aren't likely to be available until the end of September or early in October.

A-list fan: Angelina Jolie has been spotted with a Capucine

Shop assistants said they took delivery of only a handful of Capucine bags every other week over the summer, intimating Louis Vuitton may have deliberately caused the shortage to create a buzz around the product - taking a leaf out of Hermes' book.
Officially citing production constraints, Hermes is known in the luxury world for its shortages and waiting lists, particularly for its £6,000 to 25,000 Birkin and Kelly bags, which help strengthen the brand's appeal.

Buzz around the Capucine handbag has also been created after it was seen on the arm of Angelina Jolie last month in L.A. Meanwhile, another A-lister, Michelle Williams, was enlisted to be the face of the campaign to launch the bag.

In demand: Michelle Williams models the different colours of the bag - but for others who want to get their hands on it, there's currently a waiting list at stores across Europe

The Capucine handbag in full-grain Taurillon calf leather is several times more expensive than Louis Vuitton's canvas £500 bags with which the brand built much of its profitability.

Versatile: The bag has a distinctive flap that can be worn two ways

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.
Analysts expect gross margins from leather bags such as Capucine to be slightly lower.
'I take it as a very positive sign that the Capucine bag is sold out,' said market analyst Luca Solca from .Exane BNP Paribas.
'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.'
Louis Vuitton remains one of the most profitable luxury groups with sales are expected to reach £21 billion this year but shares in LVMH have been underperforming since the beginning of the year, partly on concerns consumers were losing appetite for the French brand, which some regard as too ubiquitous.
The company has also had to work hard to fight the production of cheap counterfeits.
Analysts have previously said the brand needs to do something differently for future growth given their success has left them with little room to expand. It seems tapping back into an exclusive market is their answer.
The Capucine bag was launched in June and takes its name from the Rue des Capucine in Paris, where Louis Vuitton opened his first store in 1854. It has a distinctive flap that can be worn two ways - over the bag to give it more of a satchel appearance or tucked inside for easier access.