Chanel exec says it could increase the cost of its $10,000 handbags for the ... trends now
View
comments
Chanel could increase the cost of its $10,000 handbags again this year after it already raised them by 8 percent in March.
Executives at the fashion house said costs would be assessed in line with inflation - despite recording a 17 percent jump in sales last year, sending its revenue skyrocketing to $17.22 billion.
Separately, the Wertheimer brothers - who own the luxury brand - have seen their collective worth climb to $91.8 billion, according to the Bloomberg Wealth Index.
Chanel's chief financial officer Philippe Blondiaux told Vogue on Thursday that it was 'too early to say' whether it would commit to raising prices again.
The brand says the decision depends on the inflation of raw materials and its 'price harmonization' strategy which aims to limit the difference in costs between countries.
Chanel could increase the cost of its $10,000 handbags again this year after it already raised them by 8 percent in March
Chanel recorded a 17 percent jump in sales last year, sending its revenue to $17.22 billion
'We never create a price difference of more than 15 to 20 per cent between one point in the world and another one,' Blondiaux explained.
'That may justify or not in the second half some price increases but it’s too early to say.'
Chanel
