Marc Jacobs has designed a new bag for Louis Vuitton Spring 2010 – the Raindrop Besace. It’s made of a waterproof leather material and… well…resembles a trash bag. The cross-body natural Vachetta strap is adjustable but I’m not sure if you will love the bag long enough to see it patina. The bag will set you back $1,960. If you must have it, the EURO has been beat up pretty bad recently (currently $1.3668). It might be time to plan that trip to Paris.

Love it or hate it?

Candace Bushnell, author of Sex and the City is in the works to publish a new book, The Carrie Diaries, to be released April 27, 2010. The new book will focus on the character of Carrie Bradshaw in her high school years and embrace topics such as her relationship with her mother, her first love and how she began her career in writing. The Louis Vuitton graffi-inspired cover is amazing. I’m really looking forward to the book but I wonder what The Samantha Diaires would read like.

A question that mind boggles bag connoisseurs is whether Louis Vuitton is cheaper in Paris or the states? The answer is yes and no.

It never fails to get a jaw-dropping reaction each time I tell the story of how I acquired my Monogram Canvas Speedy 30 for around $280US from the Louis Vuitton flagship store on Champs E’Lysee in Paris. It’s currently selling for around $750 in the US after taxes. Two important factors play into that amazing price. The dollar was actually trading around $1.15 to 1€ back in 2001, the year I bought my Speedy. And of course, with each year that passes, LV raises the prices on their bags. This was prior to eight years of LV price inflation adjustments.

So back to more important issues. Is Louis Vuitton cheaper in Paris than the United States in 2009? Yes and No. Yes it’s cheaper but no, it’s not as cheap as it use to be. Unfortunately, this is due to the diminishing dollar against the EURO. I got 0.65€ per dollar while I was there. Some exchange places were offering as low as 0.42€ on the dollar. Do your due diligence so you won’t get scammed.  Also, if you use your credit card, they charge a 3% fee (this varies depending on your CC company).

Even with that said, prices are slightly better and if you are traveling from a country that is not part of the European Union (EU) and visiting for less than six months, then you qualify for a VAT tax refund of 12%. In total, you can save anywhere from $50-$500+ in Paris, depending on the price of the item you are purchasing.  Here are a few pricing examples of some of the most coveted bags from Louis Vuitton:

* The US price equivalent includes a 3% fee charge by the credit card company for foreign transactions. I also included the 12% VAT tax refund. I am using today’s market currency rate to convert EUROs to Dollars – 1.4842 via Bloomberg.com.

Monogram Canvas Eva Clutch/Damier Canvas Eva Clutch – 355€ -> Final US Price Equivalent: $477.57 VS. Price in US with 8% sales tax: $594

Monogram Canvas Totally MM/White Damier Canvas Totally MM – 625€ -> Final US Price Equivalent: $840.80 VS. Price in US with 8% sales tax: $1,047.60 (I like the Neverfull but I don’t like the thin straps and the non-existent main zip. This bag is the answer.)

*GM is 725€

Monogram Canvas Neverfull MM/Damier Canvas Neverfull MM – 445€ -> Final US Price Equivalent: $598.65 VS. Price in US with 8% sales tax: $756

*PM is  415€, GM is 475€

Epi Leather Rubis Pochette Accesoires – 282€ -> Final US Price Equivalent: $379.37 VS. Price in US with 8% sales tax: $475.20 (I have to say the Ruby Red is gorgeous!).

Monogram Canvas Speedy 30/Damier Canvas Speedy 30/Damier White Canvas Speedy 30 – 460€ -> Final US Price Equivalent: $618.83 VS. Price in US with 8% sales tax: $745.20

*25 is  430€, 35 is 475€

Monogram Canvas Pouchette Milla PM – 255€ -> Final US Price Equivalent: $343.05 VS. Price in US with 8% sales tax: $378

Epi Leather Bagatelle GM Rubis – 1250€ -> Final US Price Equivalent: $1,681.60 VS. Price is US  with 8% sales tax: $2,095.20

*PM is 880€

Monogram Canvas Stresa PM (Launched just a few days ago) – 875€ -> Final US Price Equivalent: $1,177.12 VS. Price in US with 8% sales tax: $1,468.80

*GM is  975€

Monogram Canvas Mini Pochette Accessoires/Damier Canvas Mini Pochette Accessoires – 155€ -> Final US Price Equivalent: $208.51 VS. Price in US with 8% sales tax: $259.20