At S$220 a lipstick, Louis Vuitton’s pricing isn’t for the faint-hearted

It’s not a price tag; it’s an exclusivity fee. Louis Vuitton has just announced the debut of their cosmetic line, La Beauté. And one lipstick that comes in 27 shades costs a ludicrous S$220 a pop. This is, for sure, not targeted at the Maybelline user and, conversely, not even the Hermès Beauty customer. It has even outpriced Hermès! LV has another exclusive group in mind: those who care not about the possession, but the price tag. Although luxury’s lustre is currently fading (and LVMH’s most recent quarter saw declining sales), there is a segment of the ultra-rich who are not motivated by the perceived value or even the emotional satisfaction of the purchase itself. For them, the sheer, staggering price tag is the primary, if not sole, point of value.

Now, puckering up means a red lipstick can say how much you love public displays of wealth as effectively as a red Bugatti. This isn’t just the good for the feels or the quality of the lipstick, even if LV would put out the best quality they can come up with; it’s a cold charade in colour of how one can buy with imperious nonchalance. We have seen profound shifts in the luxury market before, but this is troubling. For decades, the value of a luxury item was tied to its unique, often not quite utilitarian, function—think of an haute couture gown or, in the case of Louis Vuitton, a handcrafted trunk. But now, luxury brands are betraying that very tradition. The problem isn’t just luxury becoming too expensive; it’s because it loves utilitarian too much. Luxury has become a laundry list.

This isn’t just the good for the feels or the quality of the lipstick; it’s a cold charade in colour of how one can buy with imperious nonchalance

In the days before we distinguished the boomer shopper from the Gen Z consumer, luxury was a world in which not everyone was catered to. Brands did stand for the superlative, they offered products that meant something, even if that something was a secret handshake for the well-heeled. The paradox of modern luxury is the way brands are now applying the logic of outrageous pricing to everyday, utilitarian objects. Exemplifying this is the LV lipstick—its function is to provide color and moisture, a function that a S$12 lipstick at Watsons can perform just as well. But by stripping away the uniqueness of the product and placing the entire value on the price tag, LV has transformed a luxury item into a commodity.

Of course, there is the Pat McGrath factor. For she has created the marvelously novel blend of “vivid pigment meets comfortable hydration for luminous color”, as LV described its new lipstick. Ms McGrath is no ordinary make-up maestro. She was made a Dame Commander of the British Empire in 2020. And, last year, famously painted the faces of the models of John Galliano’s final ‘Artisanal’ show for Maison Margiela as porcelain dolls. She is not only in demand, she is likely very expensive to hire. Lipstick buyers are, additionally, purchasing the “prestige of Pat”, one make-up artist told us. To Louis Vuitton, the combined names is a powerful selling point that justifies the premium pricing.

Luxury brands have long used smaller items like perfumes, wallets, and keychains as an ‘entry’ point for the important ‘aspiring consumers’. These items offered—and still does—a taste of the brand’s mystique without the prohibitive price of a handbag. But as brands push the prices of these accessible items ever higher, the entry level has become a massive leap, revealing the emptiness of the brand’s core. The S$220 lipstick is where the strategy stops being smart and starts being deeply, deeply soulless. It is no longer about selling a dream of future wealth; it’s about selling an expensive product for its own sake, targeting a specific consumer who is not only willing to pay a ridiculous price, but who finds the price itself to be the most enticing.

One wears lipstick on the lips. Coloured pouts by themselves do not project luxury, not unless you clench the lipstick itself between the lips. The reason Louis Vuitton can get away with this is their brand power. They are betting that their name alone, coupled with a high-profile collaboration with Pat McGrath, is enough to tempt. They are not selling a lipstick; they are selling a tiny brass and aluminum case stamped with the LV logo. A brand that values its name over its product risks becoming an empty promise. When a consumer can buy a luxury item for a staggering price that offers no real functional improvement, it signifies that the brand has lost faith in its own craft and is, instead, fostering a consumption culture that encourages a shopper to not just pay for the item, but pay to brag about it.

Photos: Louis Vuitton