Gucci joins the group of brands increasing their prices

Gucci joins the group of brands increasing their prices

There are those that have increased them, such as Chanel, Dior and Louis Vuitton. And there are those that lowered them, such as Mulberry and Burberry). Each brands has its reasons, but all have done so according to their commercial strategy for Asia and, specifically China, where they plan to focus their efforts. This trend shows no signs of stopping. Gucci joins the group of brands that have decided to increase the prices of items on the catalogue.

Between 5% and 9%

The brand managed by Marco Bizzarri, according to a report created by Jeffries’ analysts, has decided to increase the prices of the Dioniso and Zumi models by between 5% and 9%. These increments will affect China, Italy and the UK.

Gucci joins the group

Flavio Cereda, analyst at Jeffries, explained in the report that the price variation will decrease the difference between the handbags’ prices. Mainly between European countries, where they are currently lower, and the other luxury markets, such as China. Even with this move, continues Jeffries on the portal of Business of Fashion, the price of the Dioniso Bag in China is 28% higher than the price in Italy, even after the increase. The variation for the Zumi Bag model is of 23%.

No surprise

“It doesn’t surpirse us that Gucci is following the trend of increasing prices to attempt to mitigate the contraction in revenue”, stated Cereda. Gucci, contacted by our journalists, hasn’t commented on the news.

In Image, Milano 2020 (Imagoeconomica)

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