Classic Chanel bag breaks the 10,000 euro price barrier for the first time
Kyiv • UNN
Chanel has raised prices for its medium-sized flapper bags to over €10,000 in Paris, up 6.2% from early 2024, due to rising raw material and production costs despite lower demand.
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 .
Details
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.
Addendum Addendum
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.
