The prices in Europe are significantly cheaper, and you get a VAT refund on top.
For example:
Alma MM M40857 $2,500.00 in the US, and €1.820,00 in Italy
http://us.louisvuitton.com/eng-us/pr...-008120#M40857
http://it.louisvuitton.com/ita-it/pr...-mm-epi-008120
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1820 Euro equals 1989.81 US Dollar, minus 12%VAT (218.40)=1,602 Euro, or 1751.31 US Dollar
So after state taxes in the US, this particular purse is almost $1,000 cheaper to buy in Europe.