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Fashion Jobs
PUMA
Manager Product Line Sportstyle Footwear
Permanent · Ho Chi Minh City
H&M
Area Manager - Vietnam
Permanent ·
L'OREAL GROUP
Office Manager
Permanent · Ho Chi Minh City
L'OREAL GROUP
Key Account Executive - Drugstore Channel
Permanent · Ho Chi Minh City
PHV
Manager, Quality Assurance – Process Engineer
Permanent · Ho Chi Minh City
H&M
Security/ Compliance Manager
Permanent · HO CHI MINH CITY
PHV
Manager, Merchandising
Permanent · Ho Chi Minh City
L'OREAL GROUP
Online Brand Manager - Vichy & la Roche Posay
Permanent · Ho Chi Minh City
L'OREAL GROUP
Social Manager - Consumer Product Division
Permanent · HO CHI MINH CITY
H&M
Store Department Manager (Quản lý Ngành Hàng Tại Cửa Hàng) - đà Nẵng Based
Permanent ·
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
H&M
Department Manager (Quản lý Ngành Hàng) - Khu Vực Ocean Park Gia Lâm
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Vincom Times City
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Tại Vincom Plaza hạ Long
Permanent · HẠ LONG
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Times City
Permanent · HANOI
H&M
Visual Merchandiser (Phụ Trách Trưng Bày Làm Việc Tại Cửa Hàng) - hồ Chí Minh Based
Permanent · HO CHI MINH CITY
H&M
Nhân Viên tư Vấn Bán Hàng Khu Vực Royal City - hà Nội (Bán Thời Gian và Toàn Thời Gian)
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Mega Mall Times City, hà Nội
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực hà Đông, hà Nội
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Gia Lâm - hà Nội
Permanent · HANOI
NIKE
Nhân Viên Vận Hành Máy ép Nhựa (Đồng Nai)
Permanent · Ho Chi Minh City
By
Reuters API
Published
Nov 4, 2021
Reading time
2 minutes
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Chanel hikes handbag prices in run-up to Christmas

By
Reuters API
Published
Nov 4, 2021

French luxury group Chanel has hiked prices of some of its most sought after handbags at a time when strong consumer demand and low stocks in the run-up to the holiday shopping season are boosting their exclusivity.


Sales at Chanel fell 17.6% last year, but the core profit margin stood at around 20%, according to analysts, making it one of the most profitable companies in the sector - Reuters


Privately-owned Chanel, one of the biggest brands in the 280-billion euros ($340 billion) global luxury industry, and rival LVMH-owned Louis Vuitton have weathered the coronavirus crisis better than most other retailers and have raised prices several times to boost their profit margins.

Sales at Chanel fell 17.6% last year, but the core profit margin stood at around 20%, according to analysts, making it one of the most profitable companies in the sector. It said in June it expects revenues to increase by double digits this year compared with their 2019, pre-pandemic levels.

The price of Chanel's Small Classic handbag has gone up by 16% to 7,300 euros ($8,429) since the end of September. The hike, first reported by French news channel BFM TV, was confirmed by Reuters using the Internet Archive, a repository of past web pages.

The price of another popular handbag, the quilted leather 2.55 with a golden chain, was 7,800 euros on Chanel's website on Thursday compared with 6,050 euros in December 2020, an increase of nearly 30%, the Reuters analysis showed.

A spokesman for the group which is also known for its tweed suits and No. 5 perfume, said in an email that the price increase "only concerns our iconic models, namely the Timeless Classic and the 2.55."

Like all major luxury brands, we regularly adjust our prices to take into account changes in our production costs and raw material prices, as well as exchange rate fluctuations," the spokesman said, without giving further details.

Price adjustments are made in such a way as to avoid excessive differences between regions, the spokesman added.

In June, Chanel's finance chief had told Reuters that the group had not yet increased prices in 2021, but that this could change in the second half -- in line with its policy of reviewing prices worldwide twice a year.

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