To offset the impact of the coronavirus crisis from 2020, many companies have raised the price of their leather goods. A report issued by the American investment bank "Jeffreys" revealed that Dar Gucci increased the price of its bags between 5 and 95% during the months of March and April in Italy, Great Britain and China.
In May, Chanel confirmed the increase in the prices of handbags and some small leather products, from 5% to 17%, in conjunction with an increase in the prices of raw materials. Modifications related to the French brand symbolic models, including 11.12 and 2.55, as well as Boy, Gabrielle and Chanel 19 bags.
Fearing an imminent price hike, a long line was seen outside Chanel's store in downtown Seoul, South Korea, as the country began the process of dismantling the stone.