Is Chanel raising its handbag prices again?

Luxury fashion consumers may have to brace themselves for further price hike as brands remain confronted with rising raw material and fuel costs as well as a shortage of both.

Chanel increased prices on some of its handbags by 10 percent on its Hong Kong website, according to WWD, however the Paris-based luxury house said it was an error and readjusted the retail price after consumers took to social media.

The price adjustment, however, could be temporary. Rumours of Chanel raising prices in July are already circulating on social media and news outlets, which would make for the House’s second increase this year, after a 5-6 percent increase in March. Chanel hiked prices no less than three times in 2021 and six times since 2020.

As inflation, expensive transport and material shortages continue to grip the world, the major catalyst – the war in Ukraine – does not appear anywhere near to ending.