Chanel's Third Price Increase This Year... Classic Bag Soars Over 10 Million Won

Average Increase Rate in the 5% Range... All Classic Line Prices Raised
Classic Flap Bag Small 11.6 Million KRW · Large 13.35 Million KRW

Chanel Classic Flap Bag.

[Asia Economy Reporter Jeon Jinyoung] French luxury brand Chanel has implemented a price increase on its products. This is already the third time this year.

According to industry sources on the 10th, the average increase rate this time is in the 5% range, with all Classic line products seeing a price hike. The Classic Flap Bag Small rose from 11.05 million KRW to 11.60 million KRW, a 5.0% increase, while the Medium increased from 11.80 million KRW to 12.39 million KRW, also a 5.0% rise. The Large recorded a 5% increase from 12.71 million KRW to 13.35 million KRW. The New Mini was raised by 4.9%, from 5.66 million KRW to 5.94 million KRW.

The Boy Chanel Flap Bag line also saw a 5% increase. The Small size went from 6.99 million KRW to 7.34 million KRW, and the Medium rose from 7.59 million KRW to 7.97 million KRW.

The Gabrielle Small Hobo Bag increased by 5.0%, from 6.55 million KRW to 6.88 million KRW, and the Classic Chain Wallet (WOC), known as the 'entry bag,' also rose 5%, from 3.80 million KRW to 3.99 million KRW.

Chanel had previously raised prices on handbags and jewelry in January and March of this year, and also increased prices four times last year. This latest increase was actually anticipated. Philippe Blondiaux, Chanel's Chief Financial Officer (CFO), indicated to foreign media that "to respond to inflation caused by the weak euro, product prices may be raised next month," hinting at the price hike.

This content was produced with the assistance of AI translation services.