Chanel: anti-Covid strategies, higher prices

Chanel: anti-Covid strategies, higher prices

Higher prices to protect profits against the inevitable fallout related to the Covid-19 pandemic. It is the strategy of Chanel which for the second time in a year updates its lists with an increase in prices. Last May Chanel had already increased prices of handbags and other small leather goods, worldwide, between 5 and 17 percent. Other luxury brands may soon implement similar tweaks to their price lists. After all, luxury has already proved its strength at the beginning of the summer, when, after Louis Vuitton and Chanel, Gucci too had raised prices between 5-9% in Italy, Great Britain and China. In July, Salvatore Ferragamo also revised upwards, in a range between 5% and 7%, the prices of various proposals.

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