By Bahk Eun-ji
French luxury brand, Chanel, said Wednesday that it will raise the prices of products including handbags and purses by 10 percent on average from next month.
With the price hike, one of popular handbags of the French brand, Boy Chanel, will cost 7.4 million won, up from 6.3 million won. Another steady-selling item, Timeless CC, will cost 4.9 million won instead of 4.6 million won, and the price of its Grand Shopping bag will increase from 3.6 million won to 3.9 million won.
A Chanel official said the company decided to raise the prices because it will upgrade the designs of these handbags.
Chanel has kept increasing its prices regardless of the stronger won against foreign currencies, which usually make import prices cheaper.
Last November, it increased the prices of 40 items including handbags and wallets by 5 to 10 percent, and also raised the prices of jewelry items by 20 percent.
The official said they have to raise prices, because the government began to levy an additional tax on designer handbags and other items priced over 2 million won since January.
Other designer brands such as Ferragamo, Prada, and Louis Vuitton also raised the prices of their products.
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| Boy Chanel |
With the price hike, one of popular handbags of the French brand, Boy Chanel, will cost 7.4 million won, up from 6.3 million won. Another steady-selling item, Timeless CC, will cost 4.9 million won instead of 4.6 million won, and the price of its Grand Shopping bag will increase from 3.6 million won to 3.9 million won.
A Chanel official said the company decided to raise the prices because it will upgrade the designs of these handbags.
Chanel has kept increasing its prices regardless of the stronger won against foreign currencies, which usually make import prices cheaper.
Last November, it increased the prices of 40 items including handbags and wallets by 5 to 10 percent, and also raised the prices of jewelry items by 20 percent.
The official said they have to raise prices, because the government began to levy an additional tax on designer handbags and other items priced over 2 million won since January.
Other designer brands such as Ferragamo, Prada, and Louis Vuitton also raised the prices of their products.
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