As a consequence of the global lockdown due to COVID-19, the economic crisis has prevailed all around the globe. With luxury shopping re-opening their showrooms in China, several brands have hiked their prices in spite of the financial situation and Chanel is now one of them!
That's right! Ranging from 5 to 17 percent in Euros, the mentioned hike affects a portion of available handbag and small leather goods offerings, not impacting their beauty, fragrance and ready-to-wear range.
In keeping with Chanel’s policy of global price consistency instituted several years ago, adjustments have been or will be instituted around the world. When asked if this move was to regain the lost business in course of the pandemic, the brand cleared that the two were not related. "The current situation has absolutely no link with this decision,” the missive read. "Rather, the move is part of an ongoing strategy of price reevaluation."
Giving Chanel company, Louis Vuitton also hiked its prices by 3 percent in March and 5 percent in May.
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(SOURCE: WWD.com)
