Chanel is raising its prices on handbags and small leather goods. In the response to a Reuters query, Channel announce the price increase in euros, ranging between 5% and 17%.
"The price adjustments only regard Chanel's iconic handbags, 11.12 and 2.55, as well as Boy, Gabrielle, Chanel 19 bags and certain small leather goods," it said.
Meanwhile, iconic American department stores like Macy’s , Nordstroms, JCPenney are fighting to survive as coronavirus pandemic forces them to close.
Dolce & Gabbana are loosing out due to virus. In an interview with daily La Stampa , Domenico Dolce and Stefano Gabbana said, "You should ask our chief executive, but certainly we will, a lot, as it has already unfortunately happened in these past months."
Conde Nast is laying off 100 employees and furloughing an additional 100.
And while Dolce & Gabbana are struggling, a luxury handbag retailer Rebag secured $15 million in series.
The total funding is now $68 million.
by Sarah Brooks
Nature and Individual