Chanel winning fight against luxury grey market, says executive
Havana
CHANEL, the world's second largest luxury brand, said on Monday its efforts to curb the grey market have been successful and are helping boost revenue in China despite weaker overall demand for luxury goods.
The company narrowed its price gaps between the United States, Europe and Asia last year to prevent smugglers buying goods in one region to re-sell to another in the grey market.
"We reduced quite a lot the parallel market, mainly in Asia, and we have double-digit growth in our …
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion
Abbott beats quarterly profit estimates on strong medical device sales
Adidas shares surpass two-year high as 'terrace' sneaker trend boosts brand heat