Chanel raising prices on iconic handbags as coronavirus makes raw materials more expensive
Price increases in euros ranged between 5% and 17%
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MILAN/PARIS (Reuters) - French luxury house Chanel said on Wednesday it was increasing prices on its handbags and some small leather goods worldwide to take into account a rise in the cost of raw materials amid the coronavirus pandemic.
In an emailed statement responding to a Reuters query, Chanel said the price increases in euros ranged between 5% and 17%.
"The price adjustments only regard Chanel's iconic handbags, 11.12 and 2.55, as well as Boy, Gabrielle, Chanel 19 bags and certain small leather goods," it said.
A guest wears a black quilted Chanel bag, outside Alberta Ferretti, during Milan Fashion Week Fall/Winter 2020-2021, on Feb. 19, 2020 in Milan, Italy. (Photo by Edward Berthelot/Getty Images)
"These adjustments are made while ensuring that we avoid excessive price differentials between countries, in line with our commitments regarding price harmonization."
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(Reporting by Silvia Aloisi and Sarah White)