French fashion company Chanel S.A. will soon cut prices of its key items such as garments and handbags by up to ten percent after a free trade pact between South Korea and the European Union took effect early this month, industry sources said Monday.
But the French fashion firm has yet to choose the timing of the price cuts, according to the sources. Under the free trade deal, a 13 percent tariff on European-made bags and garments was immediately abolished.
Chanel's envisioned price cuts come after another European luxury brand, Hermes, cut prices of its key items by an average of 5.6 percent beginning with last Friday.
Unlike Louis Vuitton and Gucci, Chanel and Hermes ship their products from France, with their products being treated under the free trade pact, the sources said.
Commentaires
Il n'y a aucun commentaire sur cet article.