Chanel, which can only be purchased once a year, raises prices again... 'Classic Large' surpasses 16 million won

"Increased Due to Rising Raw Material and Labor Costs"

French luxury brand Chanel has raised the prices of some popular bags.

[Image source=Pixabay]

On the 27th, industry sources reported that Chanel increased the prices of its signature products, such as the Classic Flap Bag and Boy Bag, by about 6-7%. The official website currently reflects the updated prices. The small size of the Classic Flap Bag rose from 13.9 million KRW to 14.97 million KRW, a 7.69% increase. The medium size went from 14.5 million KRW to 15.57 million KRW, and the large size increased from 15.7 million KRW to 16.78 million KRW, breaking into the 16 million KRW range with a 6.87% hike. The Classic Flap Bag is highly popular among Chanel products, and customers are limited to purchasing only one per year. The Boy Bag also rose to 10.21 million KRW, and the New Mini increased to 7.48 million KRW.

Earlier, Chanel sent an internal memo stating, "Due to increases in raw material and labor costs, exchange rate fluctuations, and high inflation, we will raise the prices of major bag products starting from the 27th." Earlier this year, Chanel had already implemented its first price increase of the year targeting jewelry and watches. Additionally, on the 1st of last month, beauty product prices were raised by 5-10%.

This year, major luxury brands have been raising prices one after another since the beginning of the year. Last month, Louis Vuitton increased prices on some bag products, and Herm?s also adjusted prices upward for shoes and bags. Brands frequently chosen for wedding gifts, such as Dior, Boucheron, and Tiffany, have also consecutively raised their product prices.

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