Fashion

Gucci Increases Handbag Prices Following Coronavirus Impact

Following similar actions by labels like Chanel and Louis Vuitton.

By
4,686 Hypes

Gucci Increases Handbag Prices Following Coronavirus Impact

Following similar actions by labels like Chanel and Louis Vuitton.

Following impacts of the ongoing COVID-19 pandemic, Gucci has decided to increase prices of its handbags to combat losses throughout Q1 and Q2. The pandemic has impacted the luxury sector immensely, and we’ve already seen Chanel change its prices to reflect the current climate.

Gucci’s adjustments were detailed in a report by Jefferies analysts, seeing surges between five to nine percent for the Dionysus ($2,290 USD) and Zumi ($2,980 USD) bag silhouettes across China, Italy and the U.K. Labels like Louis Vuitton have also followed the same business move, relying on their key demographic of wealthy spenders to remain loyal and continue to shop, despite increases in price. “We are unsurprised that Gucci, another brand with strong brand heat, is following suit with opportunistic price increases in an attempt to mitigate revenue contraction,” said analyst Cereda, explaining that the new change will tighten the gap between the lower cost of handbags in Europe in comparison to consumer markets in China, where prices soar higher.

It remains to see when the price increase will take place. Meanwhile, learn more about Chanel’s decision to up prices here.

Read Full Article

What to Read Next

Justin Bieber Responds to Sexual Assault Allegations
Culture

Justin Bieber Responds to Sexual Assault Allegations

“This story is factually impossible and that is why I will be working with Twitter and authorities to take legal action.”
1,165 Hypes

"Films for Escapism" Explores Interconnectivity Through the Works of 4 Black Queer Filmmakers
Film & TV 

"Films for Escapism" Explores Interconnectivity Through the Works of 4 Black Queer Filmmakers

Watch Rhea Dillon’s ‘The Name I Call Myself’ here.
471 Hypes

No Sesso Unveils Its Harlem Renaissance-Inspired FW20 Campaign
Fashion

No Sesso Unveils Its Harlem Renaissance-Inspired FW20 Campaign

The “A Vignette of the Renaissance on 24th Street” collection is now available to order.
778 Hypes

Swedish R&B Singer AWA Drops Debut EP 'cry.baby'
Music

Swedish R&B Singer AWA Drops Debut EP 'cry.baby'

Featuring her latest single “Too Late For That” in collaboration with BJ The Chicago Kid.
398 Hypes

Alo Yoga Unveils Summer Collection in Celebration of International Yoga Day
Health 

Alo Yoga Unveils Summer Collection in Celebration of International Yoga Day

An exclusive look at Alo Yoga’s summer collection.
1,284 Hypes

Here Are 4 Ways to Show Your Dad Appreciation This Father's Day
Culture 

Here Are 4 Ways to Show Your Dad Appreciation This Father's Day

We’ve got you covered with these last-minute ideas.
972 Hypes

More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.

Help Support Us

We need ads to keep the website running and to continue providing free news to our readers. We'd appreciate your support by whitelisting HYPEBAE on your ad blocker.

If you have already whitelisted us, simply refresh this page. To find out how to whitelist us, click the button below.

Back

Add Us to Whitelist

We appreciate your support in allowing HYPEBAE ads. Most ad blockers have similar whitelisting steps and settings. If you need assistance, please contact us.

Adblock Plus

  1. Click on the red ABP icon in the upper right corner of your browser.
  2. Click “Enabled on this site” to disable ad blocking for the current site. In Firefox click “disable on HYPEBAE”.
  3. Refresh the HYPEBAE page that you were viewing.

Adblock

  1. Click the AdBlock hand icon.
  2. Click “Don’t run on pages on this domain”.
  3. A new “Don’t run AdBlock on…” dialog may be displayed in the middle of the screen.
  4. Move the “Site” slider to the right. After that, click “Exclude”.
  5. Refresh the HYPEBAE page that you were viewing.

uBlock

  1. Click the uBlock icon.
  2. Click the large blue “power” button in the menu that appears to whitelist the current website.
  3. Reload the HYPEBAE page that you were viewing.

Firefox Browser

Firefox Tracking Protection may activate our whitelist notice, which can be disabled temporarily for a browsing session by clicking the shield icon in the URL bar and following the instructions.

Disconnect

  1. Click the Disconnect icon.
  2. Click “Whitelist site”.
  3. Refresh the HYPEBAE page that you were viewing.