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Chanel and other luxury brands raise prices for products in Korea

Published: 13 Jan. 2026, 13:01 Updated: 13 Jan. 2026, 14:48

The Chanel logo is seen at a store in Seoul in this file photo. [YONHAP]

Luxury brand Chanel has raised the prices for some of its handbags and other items sold in Korea.

Chanel Korea increased the price of its Maxi classic handbag to 20.33 million won ($13,800) from the previous 18.92 million won — or by 7.5 percent.

The Classic 11.12 handbag also increased 7.4 percent from 16.66 million won to 17.9 million won. The Small Boy Chanel handbag surpassed the 10 million won mark, rising 7.5 percent from 9.86 million won to 10.6 million won.

Luxury brands have long faced criticism for treating price hikes as an annual ritual but often cite rate fluctuations and rising gold prices. Chanel raised prices on select items sold in Korea in both January and June last year.

Swiss watchmaker Rolex also raised its prices starting Jan. 1. The Rolex Submariner Oyster 41 millimeter (1.6 inches) rose 5.7 percent to 15.54 million won, and the Sky-Dweller 40 increased 6.9 percent to 25.31 million won. Rolex, like Chanel, implemented price hikes in January and July 2025.

Hermès followed suit on Jan. 5, raising prices on some bags and accessories in Korea after doing the same in Europe. The popular Picotin bag saw its price climb 5.4 percent from 5.17 million won to 5.45 million won.

Louis Vuitton is also expected to raise its prices. The brand implemented price increases in Korea in January and April last year on select products.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM JI-HYE [[email protected]]