Chanel Pulls Back the Price Tag

A closer look at how luxury brands adjust when profits shrink and prestige is on the line

Chanel’s recent financial results show a shift in momentum for one of the world’s most recognizable luxury brands. The company reported a four percent drop in global sales and a sharp thirty percent decline in operating profits, bringing its total to 4.5 billion dollars. In response, Chanel is easing off the aggressive price increases that have defined …