Chanel Hikes Prices Again This Year in Korea

French luxury brand Chanel has raised the prices of its key products in Korea again.

Chanel said on Wednesday that it would hike the prices of some products by 4 to 5 percent starting Thursday, reflecting changes in productions costs and exchange rates.

Chanel raised the prices of 326 of its products by 2.4 percent on average in January. It also increased prices of handbags, shoes and other products by 11 percent in May, and for other products in July.

Some customers had scrambled to stock up on Chanel products before the hike, leaving stores' inventories dry.