Chanel CEO Says Price Hikes Driven by Inflation, Craftsmanship

Chanel’s chief executive officer defended the luxury brand’s pricing after it raised the cost of one of its best-known handbags to more than €10,000 ($10,725).

The fashion label, known for its haute couture designs and fragrances, takes account of inflation and its high standards for materials and craftsmanship in setting prices, CEO Leena Nair told Bloomberg’s Francine Lacqua in a Leaders With Lacqua interview.

“We use exquisite raw materials and our production is very rigorous, laborious, handmade — so we raise our prices according to the inflation that we see,” Nair said.

On the latest episode of Leaders With Lacqua, Francine Lacqua speaks to Chanel CEO Leena Nair about her professional and personal journey, how it defines her leadership style, and her unique approach at the top of luxury.

Source: Bloomberg

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