• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
A person is holding a clothing tag on a rack, contemplating the price increase of luxury brands amidst economic challenges.

Price Increases Across Luxury Brands in Response to Economic Challenges

11/03/2023
ATLANTIS LOGISTICS (DRC) SARL Strengthens DRC’s Position in Global Trade Through Reliable Logistics Solutions

ATLANTIS LOGISTICS (DRC) SARL Strengthens DRC’s Position in Global Trade Through Reliable Logistics Solutions

07/30/2025
Trezix: Transforming Global Trade with AI-Driven Orchestration

Trezix Software Pvt Ltd Nominated for Go Global Awards 2025

07/30/2025
Trezix: Transforming Global Trade with AI-Driven Orchestration

Trezix: Transforming Global Trade with AI-Driven Orchestration

07/30/2025
U.S. and China Conclude Stockholm Talks as Tariff Pause Remains in Effect

U.S. and China Conclude Stockholm Talks as Tariff Pause Remains in Effect

07/30/2025
DTI Sees Tariff Adjustment as Positive Step for Philippines

DTI Sees Tariff Adjustment as Positive Step for Philippines

07/30/2025
Charts and graphs showing business items and U.S. tariff shifts. - Supply Chain News

Analysts Monitor U.S. Tariff Shifts Amid Trade Talks

07/30/2025
Wall Street Eases Concerns as U.S. Tariff Levels Stabilize Below Expectations

Wall Street Eases Concerns as U.S. Tariff Levels Stabilize Below Expectations

07/30/2025
Trump Proposes Global Baseline Tariff Rate of 15–20 Percent

Trump Proposes Global Baseline Tariff Rate of 15–20 Percent

07/30/2025
1FC Invest Enterprises Nominated for Go Global Awards 2025

1FC Invest Enterprises Expands Financial Inclusion Across India with Tech-Driven Legacy Planning Solutions

07/29/2025
1FC Invest Enterprises Nominated for Go Global Awards 2025

1FC Invest Enterprises Nominated for Go Global Awards 2025

07/29/2025
M.A.R.S.A.T S.A: Advancing Romania’s Energy Infrastructure with Turnkey Engineering Solutions

M.A.R.S.A.T S.A. Nominated for the Go Global Awards 2025

07/29/2025
M.A.R.S.A.T S.A: Advancing Romania’s Energy Infrastructure with Turnkey Engineering Solutions

M.A.R.S.A.T S.A: Advancing Romania’s Energy Infrastructure with Turnkey Engineering Solutions

07/29/2025
supplychainreport
Thursday, July 31, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Price Increases Across Luxury Brands in Response to Economic Challenges

by Geraldine S.
11/03/2023
in Luxury Goods
In the face of global economic challenges, several luxury brands have announced or implemented price increases on their products. Recently, Chanel, the renowned French luxury brand, raised the price of some of its popular handbags, and Tiffany, the iconic jewelry brand, is also set to increase prices. According to information obtained by the Global Times, Tiffany’s staff revealed that the prices of diamond ring products would go up starting Friday. While the specific details of the price hike were not disclosed, media reports suggest that Tiffany’s product prices globally could rise by 20 to 59 percent.
Users on the Chinese social media platform Xiaohongshu observed that prices of Chanel bags have increased since November 2. A comparison on Chanel’s official website showed that the price of the Large 2.55 handbag is now 75,500 yuan, up from 71,500 yuan in November 2021, as per a user post. Zhang Yi, CEO of iiMedia Research Institute, explained to the Global Times that luxury brands are adjusting prices to compensate for losses due to global economic uncertainties and to sustain stable profits. Recent financial reports from luxury groups such as Kering, Hermès, and LVMH indicate strong performance despite the challenging economic environment.
Kering Group reported a 23 percent year-on-year revenue increase to 5.14 billion euros in the third quarter of 2022. LVMH’s income from January to September 2022 reached 56.5 billion euros, marking a 28 percent increase from the previous year. Hermès saw its revenue rise to 8.6 billion euros by the end of September 2022, a 30 percent increase year-on-year, with sales in China rebounding strongly even amidst COVID-19 related store closures. A representative from Hermès stated that the brand expects a price rise of 5 to 10 percent in 2023 due to increasing costs and currency fluctuations. However, the demand for Hermès products remains robust, as reported by Reuters. Zhang Yi noted that the purchasing power of luxury consumers tends to be resilient, allowing brands to adjust prices to maintain profitability. However, analysts caution that excessive reliance on this strategy could potentially backfire and harm the brand’s reputation.
Discover comprehensive supply chain report news insights at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#LuxuryBrands #PriceIncreases #Chanel #Tiffany #KeringGroup #LVMH #Hermes #GlobalEconomy #DiamondRings #Handbags #PriceHike #LuxuryMarket #EconomicChallenges #ConsumerTrends #Xiaohongshu #LuxuryDemand #BrandStrategy #LuxuryConsumer #PriceAdjustments #GlobalLuxuryMarket

YOU MAY ALSO LIKE

Designer Fragrances Embrace Niche Market Trends

Luxury Brands Adjust Strategies to Appeal to Aspirational Consumers

In the face of global economic challenges, several luxury brands have announced or implemented price increases on their products. Recently, Chanel, the renowned French luxury brand, raised the price of some of its popular handbags, and Tiffany, the iconic jewelry brand, is also set to increase prices. According to information obtained by the Global Times, Tiffany’s staff revealed that the prices of diamond ring products would go up starting Friday. While the specific details of the price hike were not disclosed, media reports suggest that Tiffany’s product prices globally could rise by 20 to 59 percent.
Users on the Chinese social media platform Xiaohongshu observed that prices of Chanel bags have increased since November 2. A comparison on Chanel’s official website showed that the price of the Large 2.55 handbag is now 75,500 yuan, up from 71,500 yuan in November 2021, as per a user post. Zhang Yi, CEO of iiMedia Research Institute, explained to the Global Times that luxury brands are adjusting prices to compensate for losses due to global economic uncertainties and to sustain stable profits. Recent financial reports from luxury groups such as Kering, Hermès, and LVMH indicate strong performance despite the challenging economic environment.
Kering Group reported a 23 percent year-on-year revenue increase to 5.14 billion euros in the third quarter of 2022. LVMH’s income from January to September 2022 reached 56.5 billion euros, marking a 28 percent increase from the previous year. Hermès saw its revenue rise to 8.6 billion euros by the end of September 2022, a 30 percent increase year-on-year, with sales in China rebounding strongly even amidst COVID-19 related store closures. A representative from Hermès stated that the brand expects a price rise of 5 to 10 percent in 2023 due to increasing costs and currency fluctuations. However, the demand for Hermès products remains robust, as reported by Reuters. Zhang Yi noted that the purchasing power of luxury consumers tends to be resilient, allowing brands to adjust prices to maintain profitability. However, analysts caution that excessive reliance on this strategy could potentially backfire and harm the brand’s reputation.
Discover comprehensive supply chain report news insights at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#LuxuryBrands #PriceIncreases #Chanel #Tiffany #KeringGroup #LVMH #Hermes #GlobalEconomy #DiamondRings #Handbags #PriceHike #LuxuryMarket #EconomicChallenges #ConsumerTrends #Xiaohongshu #LuxuryDemand #BrandStrategy #LuxuryConsumer #PriceAdjustments #GlobalLuxuryMarket

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.