Chanel is to harmonise the pricing of its three signature bags globally from April 8 to reduce the price differences in different countries. The styles involved are the 11.12, the 2.55 and the Boy.
The French luxury brand said differences are caused by exchange rate fluctuations and the methodology used to set prices, but variations have widened considerably due to the recent depreciation of the euro.
The move is expected to see prices rise in the euro zone, while they will drop in Chinese yuan. It will also help to deflect questions over authenticity and assist in the fight against the private resale market.
The harmonisation will be progressively applied to all of Chanel’s fashion products this year.
“This decision will allow us to offer our products to all of our customers at a harmonised price, regardless of our customers’ geographic location,” said the company.“By implementing this strategy, Chanel intends to further consolidate the brand’s consistency on a worldwide basis and provide it with new development opportunities.”
The move is expected to pave the way for Chanel to offer a global ecommerce platform in due course.