Luxury Brands Raise Prices Post-Pandemic.
Music by: Cabaret Nocturne – Dark Pop.
It’s CULTED with your 60-second FASHION BLAST.
As China eases into normality following a 2 month shutdown, shoppers are creating mile-long queues outside luxury stores.
But brands are taking the opportunity to make gains. According to WWD, major luxury brands are hiking up their prices to make up for lost time.
Some Chanel prices might increase by almost 30% and Louis Vuitton told WWD that they have been elevating their prices since March, and have now reached an 8% increase.
Hermes’ boutique in China made $2.7 million in sales on it’s first day alone.
Other brands like Dior and Gucci are using different tactics, launching China-focused campaigns as a way to promote their products within the country.
Last week, Dior revealed two new local ambassadors actresses Jinyan Wu, and Ziwen Wang and Gucci and Prada are also going all out for Chinese Valentine’s day, developing campaigns featuring popular brand ambassadors.
So, would you guys be prepared to pay more for your favourite luxury items?
Let us know, below!
Watch more videos on CULTED
See also: ONLINE RETAILERS HIT BY CORONAVIRUS