Chinese shoppers flock to Chanel shops
20/03/2015
Chanel announced on March 18 that it intends to bring to bring the prices it charges in its stores in China into line with the prices consumers pay for the same goods in stores in Europe. It said it would be October before it implements the new price regime and that high import duties in China meant there would still be some difference, but it promised prices in China would never be more than 10% higher than its prices in euro.
This announcement appears to have had an immediate effect on Chinese consumers. Its stores in Shanghai and Beijing experienced an immediate increase in sales. Media in China reported that the Chanel store in the SKP Mall in Beijing had twice the number of customers on March 19 compared to the day before.
One journalist asked in stores run by rival luxury brands Louis Vuitton, Gucci and Prada if they had experienced anything similar. Staff in their stores said customers had been asking if prices there are likely to fall too but told the journalists they had received no word about this from their respective head offices.
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