Chanel, Korea to raise prices again ... Strategies aimed at wedding gift

Chanel, one of the most popular brands in the marriage season in May, is raising the prices of some products. 

According to Chanel Korea on May 8, the price of bags and shoes will be raised from May 15th. Some bag prices have risen by an average of 11% and shoe prices by 13%. Beauty products such as cosmetics do not raise prices. 

Chanel, including this and cosmetics, will raise prices five times in a year. Chanel Korea raised product prices four times in May, September, November, and January this year. 

In May, Chanel posted an average 4% increase in duty-free shop prices for some products, including wallets. In September of last year, we raised prices for some products such as 'Classic 2.55 Raji' and 'Madmo Gel Vintage' by up to 17%. 

Last November, we raised 13% and 5% handbags for Boy Chanel and Classic, respectively, and raised the average cosmetics price by 2.4% in January.

Chanel Korea said, "We will raise our product prices due to fluctuations in exchange rates. We have raised our prices as part of our global price harmonization policy." 

Industry workers pointed out that the wedding season is a trick to raise sales by raising Chanel's popular products as gifts. 

Luxury brands, on the other hand, are raising product prices mainly in the spring of coma. French luxury goods maker Louis Vuitton raised prices five consecutive months in November last year, and subsequently increased prices in February and March this year.