Chanel to Harmonize Global Prices

PARIS — Positioning its brand for the future in an increasingly flat and digital world — and one racked by currency fluctuations — Chanel said Monday it plans to begin aligning the brand’s global pricing. Effective April 8, the French fashion house is to harmonize sticker prices for three of its most iconic handbags, resulting in a sharp increase in Europe and a big drop in Asia. For example, an 11.12 model, now priced at 3,550 euros in Europe, is to cost 4,260 euros come April 8, while the same bag in China, now 38,200 yuan, is to drop to about 30,000 yuan. Meanwhile, the price of a Boy bag is to rise to 3,720 euros from 3,100 euros in Europe, while falling from 32,700 yuan to about 26,000 yuan. The 2.55 bag is the third classic model affected. Ultimately, worldwide prices at the company are to never fluctuate more than 10 percent above or 10 percent below the global euro benchmark, said Bruno Pavlovsky, Chanel’s president of fashion, noting other products would be harmonized starting with the cruise 2015-16 fashion season. He characterized the new pricing policy — which is bound to catch some of the brand’s competitors off guard — as a “better

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