Chanel's Fourth Price Increase This Year... Classic Medium Now 13 Million Won

Chanel Classic Medium increased on the 2nd. (Source: Chanel Korea official website)

[Asia Economy Reporter Jeon Jinyoung] French luxury brand Chanel raised the prices of all its products on the 2nd. This is the fourth price increase this year and the first in three months since August.

On this day, Chanel increased prices of all products in Korean stores by 3-11%. The classic flap bag line, which is limited to one purchase per year, saw a 6-7% price increase. The classic flap bag medium, previously priced at 12.39 million KRW, jumped to 13.16 million KRW.

By size, the mini increased from 5.94 million KRW to 6.37 million KRW, the small from 11.6 million KRW to 12.37 million KRW, and the large from 13.35 million KRW to 14.2 million KRW.

In addition, shoes saw a 6-7% increase, wallets rose by 12%, and fine jewelry such as Coco Crush increased by about 13%.

Chanel stated regarding this price increase, "It is to adjust regional price differences caused by exchange rate fluctuations and to sell at similar prices to customers worldwide." Chanel also implemented price adjustments in the UK and France.

Recently, overseas luxury brands have been consecutively raising prices due to increases in raw material costs and exchange rates. Louis Vuitton raised prices for the second time this year on the 27th of last month, and Herm?s has also announced product price increases for next year.

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