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Chanel CEO Says Price Hikes Driven by Inflation, Craftsmanship

The luxury goods maker is seeking pricing harmonisation across the globe and adjusts prices in different markets to ensure that the company is”fair to all our clients everywhere,” CEO Leena Nair said.
Chanel was awarded $4 million in statutory damages this week in a closely watched case against resale site What Goes Around Comes Around.
A classic medium-sized Chanel flap bag, for instance, rose above the €10,000 threshold for the first time in Paris last month. (Shutterstock)

Chanel’s chief executive officer defended the luxury brand’s pricing after it raised the cost of one of its best-known handbags to more than €10,000 ($10,725).

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Further Reading

Is Chanel’s ‘Absolute Luxury’ Push Working?

With prices and quality for its flagship handbags under scrutiny, can the French couture giant reclaim the narrative? "We're not perfect," fashion president Bruno Pavlovsky said. "We're aware that our positioning obligates us to always do better, and we try to always do better."

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