Gucci raises bag prices to offset economic damage due to the Covid-19 pandemic. Over the past month, prices for Dionysus ($ 2290) and Zumi ($ 2980) bags in boutiques in China, Italy and the UK have increased by 5-9%, reports Jefferies.
Earlier, the luxury brands Chanel and Louis Vuitton also raised their prices based on their own research reports, which showed that the main customers of these luxury brands are wealthy people who will continue to buy items from their favorite brands even after the price increases.
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