Will the second-round impact of the epidemic lead to rising prices for luxury goods?

It is not surprising that luxury goods has risen the price because its luxury properties and high value preservation.Some time ago, French luxury brand CHANEL announced that it had increased prices of some products for some countries, because it was “affected by the euro exchange rate and local currencies in some markets large fluctuations ”.

Some CHANEL handbags and small leather products rose price about 5% in October, increase most pronounced in China, Japan, South Korea and the UK.

CHANEL was the first luxury brand to announce price increases in the second half of this year. Soon after another luxury brand Italian Bottega Veneta began to increase prices, a variety of ladies bags price  has increased in designated areas, with South Korea bearing the brunt.

Now, the epidemic second outbreak will have a huge impact on the fashion industry. However, the recovery of the luxury industry has not recovered yet and is interrupted by the second outbreak , which will undoubtedly make the whole luxury industry more worsen.

Therefore, for Bottega Veneta’s increase price operation this time, the  media speculated the brand chose this strategy in order to make profits and maintain the luxury brand value . The media also predict it should be the forecast for all the luxury increases price and there will be a large wave of increases in the future.

In order to better serve our brand customers and increase customer experience, we will always ensure the high-quality hangers. We are professional and serious in making hangers.

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