The “ lipstick index ”— aka the idea that people will splurge on small luxuries when big ones feel out of reach — is alive and well, and Louis Vuitton just made it official. On August 25, the famed fashion house will launch its first-ever makeup line, featuring lipsticks stamped with the LV monogram.

The fashion label is entering the makeup space with lipstick, tinted lip balm and eyeshadow palettes —plus, beauty guru Dame Pat McGrath as its creative director,