Chanel Is Aiming for Hermes Status With Handbag Price Hikes
- The brand boosted price of one small bag by 60% to $8,200
- Customers limited to buying one bag at a time in Paris stores
The Chanel 2.55 handbag.
Photographer: Edward Berthelot/Getty ImagesChanel has raised global prices on some of its classic handbags by almost two-thirds since the end of 2019.
A spokeswoman said the hikes are in response to unspecified exchange-rate fluctuations, changes in production costs and to ensure its handbags cost roughly the same around the world. But luxury-sector executives and analysts say the magnitude of the increases signals an aggressive corporate strategy: asserting control over one of the brand’s most popular products while taking aim at higher-end rivals.