Chances are pretty good that they didn't pay full retail either, or even close. I worked in the licensing business in a previous life. Wealthy and well-connected people gift this kind of stuff in their circles like you and I gift the $7 box of Whitman's sampler chocolates.
You may have discovered the whole reason for the story. The British magazine has a backdoor deal with Louis Vuitton to write the story and plug the bag.
In fact, this may explain a ton of stories put out by this British rag.