It's good news for our American readers with luxury companies such as Christian Louboutin, Chanel and Versace reportedly slashing prices on goods from 8 to 10 per cent.
The US dollar has increased in value against the euro by 28 per cent since April, allowing the cut in prices. It is hoped that the move will encourage shoppers to spend again. However, the catch seems to be that reducing the prices of a pair of designer shoes might simultaneously run the risk of devaluing the label.
