It looked like a "second spring" for Hong Kong's high-fashion avenue, which had been teetering on the brink as months of social unrest and the pandemic kept deep-pocketed fashion aficionados away.
In a scene reminiscent of its heyday, the Chanel store on Canton Road in Tsim Sha Tsui drew an unusually large crowd of 100 people one evening in mid-May.
"I rushed to the store as soon as I was off the clock," said public relations executive Stella Lau, determined not to miss the boat after talk on social media platforms suggested that the high-end French house was about to raise prices on some of its brands. She had set her sights on a handbag before the price hikes.
Chanel said on May 13 it was upping prices globally on its iconic handbags and leather items from 5 to 17 percent. Two days later, prices rose in Hong Kong, following increases in Europe.
The fashion house's Medium Classic Flap Bag, which went for HK$42,300 ($5,460) in late November, had a new price tag of HK$48,600 on its official website - an increase of nearly 15 percent.
Chanel's luxury-brand peers also joined in the hike. Louis Vuitton, the biggest revenue driver for industry powerhouse LVMH, had raised prices of its products twice within two months, on March 4 and
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