Chanel increases price tag due to higher raw material costs

France
Published:  15 May, 2020
Credit: Chanel

The French luxury fashion label said it is increasing the price tags on its handbags and other leather accessories as a result of a rise in the cost of raw materials due to the Covid-19 pandemic.

According to media conglomerate Reuters, Chanel said the global price increase in euros ranged between 5% and 17%. Allegedly, the price adjustments will only concern Chanel’s iconic handbags, 11.12 and 2.55, as well as Boy, Gabrielle, Chanel 19 bags and a selection of small leather goods. “These adjustments are made while ensuring that we avoid excessive price differentials between countries, in line with our commitments regarding price harmonisation”, said the French label.

Source: Reuters