French luxury brand Chanel said in Weibo that it plans to increase the price of products in Europe and reduce it in Asia to cope with the devaluation of Euro and check the phenomenon of purchasing fake products.
The price reduction will be effected in April 8th, with three classic types, 11.12, 2.55 and Boy as the targets.
Chanel declared Tuesday “This price adjustment makes the price of our products almost the same everywhere in the world.”
The statement pointed out that this move can help Chanel check the occurrence of parallel reselling market arising from price difference. The latter has damaged the exclusivity of Chanel’s business, image and brand.
The head of Chanel’s fashion department Bruno Pavlovsky said that the price of products worldwide will increase or decrease by less than 10% against the global base price of Euro.
Chanel said that the price of 11.12 and 2.55 in Europe will be increased from 3550 euro to 4260 euro, and the price of Boy will increase from 3100 euro to 3720 euro.
The price of these three types of bags will remain the same in Japan, America, Britain and Canada, and decrease in Hong Kong, mainland China, Korean, Vietnam, Thailand, Dubai and Russia.
Chanel added that this year it will unify the price of other products.