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Analysis: Here’s the impact of Chanel’s latest price hike on the luxury industry

Thinking about getting a Chanel handbag? Well think fast.Last month, the iconic French luxury house increased the prices of its signature products, including the classic flap and the 2.55. The latest round of price hikes will mark the brand’s fourth adjustment since 2019.Data compiled by the Jefferies Group showed prices for Chanel’s small classic flap bag had jumped by 60 per cent, to US$8,200 (A$11,400), in the US market. While the larger 2.55 underwent a 78 per cent price increase; the ba