A medium-sized Chanel bag with a flap now costs more than 10,000 euros in Paris. This is about 6.2% more than 9,700 euros at the beginning of 2024, Bloomberg writes, UNN reports .
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It is noted that some luxury brands are ready to continue to raise prices despite the decline in demand. One of these brands is Chanel.
Chanel prices its handbags at cost. Raw material prices and production costs have been marked by persistent inflation over the past year, forcing us to adjust our prices in boutiques
According to him, this increase will take effect in all markets from March 27, 2024, with an average adjustment rate of 6 percent in euros
In September, Chanel raised prices by 6-8 percent in markets such as China, Japan, and Australia.
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Exclusive luxury brands can apply increases without necessarily losing customers. But last year there were signs that affluent customers were cutting back on their spending.
Chanel mainly serves the most affluent customers, on par with Hermes International or watchmaker Rolex, whose consumer power is more resilient despite the overall slowdown in demand.