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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.

The Chanel 2.55 handbag.

Photographer: Edward Berthelot/Getty Images

Chanel 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.