Chanel increased prices of its high-end products in China in September, amid a slowdown in demand for luxury goods worldwide after the post-pandemic boom years.
With Chinese consumers cutting back on luxury purchases, Chanel is responding interestingly by raising the prices of its premium products.
Chanel Responds to Decreased Demand With Increased Prices in China - Retail Bum
There are growing signs that Beijing is keen to slow the ascent in China’s currency after it surged to the highest level since mid-2018 against the dollar.
China Acts to Slow Gains by Strongest Yuan in Almost Three Years - Bloomberg
China's second-hand luxury market is booming – here's why: buying pre-owned Louis Vuitton, Rolex, Hermès, Prada and Fendi goods used to be frowned upon, but now shoppers are getting savvier
French maker of $10,000 handbags says sales rose 24% at a constant exchange rate during the last quarter
Hermès sales rise as demand for luxury goods defies price hikes
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A new report predicts China's luxury market rate of growth will slow this year, but will still increase by 15 to 18 per cent. The biggest hit? Entry-level shoppers.
China: Luxury growth rate to slow in 2022 with fewer entry-level shoppers
China has been propelling the luxury market for decades. But the pandemic and the strict lockdowns have changed a thing or two. Now the biggest brands are betting on Japan and South Korea. Is Beijing missing out?
Asia luxury market: Are big brands Louis Vuitton, Dior picking Japan, South Korea over China?
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Not all luxury brands have fared equally under Chinese President Xi Jinping’s crackdown on graft and conspicuous flaunting of cadre wealth. While fancy watch sales dipped 11 percent in the year since a Rolex-wearing Chinese official nicknamed “Brother Watch” was ousted from his job in September 2012, sales of luxury apparel and cosmetics both jumped 10 percent in 2013, according to consulting firm Bain & Co.
More Chinese Luxury Shoppers Prefer to Buy Overseas - Bloomberg
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