Chanel vs Hermès: the battle is on for title of the ultimate luxe bag brand

Chanel has raised global prices on some of its classic handbags by almost two-thirds since the end of 2019.A spokeswoman said the hikes are in response to unspecified exchange-rate fluctuations, changes in production costs and to ensure its handbags cost roughly the same around the world. But luxury-sector executives and analysts say the magnitude of the increases signals an aggressive corporate strategy: asserting control over one of the brand’s most popular products while taking aim at higher…

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