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Gucci handbags prices to rise after Louis Vuitton and Chanel

Gucci handbags prices to rise after Louis Vuitton and Chanel

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Gucci has raised the price of handbags by up to 9%, joining rivals Louis Vuitton and Chanel in a bet their brands will still lure the wealthy, a Jefferies report said on Friday, as top luxury brands try to shake off the impact of the COVID-19 pandemic.

 

The luxury fashion industry, which plays a large role in the economies of Italy and France, has been hard-hit by lockdowns that forced the closure of stores across the globe and could face years of uncertainty as many people’s incomes are likely to fall.

 

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Photo à la Une : © Gucci

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