News of Chanel’s strategy to harmonize prices globally is still making headlines. After Chanel’s announcement earlier last week the Asian market stores are struggling to keep stock on the shelves. With lines out the door and wait times in the hours, Chanel is at the top of luxury shopping lists if in Hong Kong, Singapore, China. Why?
It’s simple, the classic styles now cost at least 20% less. For example in Singapore, the medium 11.12 and 2.55 now cost $6,600 each, down from $7,550. The price of a medium Boy Chanel has been lowered from $6,580 to $5,820. See full price comparisons at: Global Price Implications on Chanel Street .
But thats not the only reason for the long lines, customers who bought any of the three classic bags between March 3 and 16, before the price adjustment, will get a credit note that allows them to offset the difference on their next purchase. This is huge when considering the credit note is nearly $1000, coupled with their price decrease, it’s almost like getting a Classic Chanel bag at 50% off!
Singapore Times by Melissa Lin
Bloomberg Business shares this video clip live from Hong Kong Chanel stores: Lines Form at Chanel’s Stores After Euro-Driven Price Cuts
- Korea, Vietnam, Thailand & Russia will see decrease in prices after April 8th
- Japan, UK, USA & Canada to remain the same.
- Europe prices increase.
Lines outside Chanel at the Shanghai International Financial Center in Shanghai: Jing Daily
The Lines Outside Chanel In Hong Kong: Business Insider AU
Lines outside Chanel at luxury China malls: Luxury 360