French luxury brand Chanel ‘re-aligns’ prices to give mainland Chinese shoppers a better deal
Lower-priced handbags fly off the shelves even though prices are still higher than in Europe
Two days after French luxury fashion retailer Chanel cut prices on three of its most well-known handbags, many items ran out in Beijing stores even though some customers said they would not give up European shopping trips.
The flagship store in the city’s SKP mall was busy during lunchtime on Friday. Sales staff said popular products like the classic mid-sized 2.55 handbag had already sold out on Thursday soon after the store announced that it was “re-aligning” prices.
A customer who gave only his last name Wei was one of a dozen customers looking for bargains in the store and finally settled on a small handbag for 18,900 yuan (HK$24,000) for his girlfriend.
“It’s still more expensive than in Europe,” said the IT manager, who saw the same item on a trip to Europe last month. “But as my girlfriend’s birthday is coming up, I’d like to give it to her.”
Another customer, Ms Yang, who has Chanel handbags in Europe in the past, was happy.
“Chanel is my favourite brand, but it never cuts its price,” the 40-year-old said. “This time it is just a one-off price adjustment. Their prices will continue to go rise, I believe,” she said.