Fashion brands hike prices amid unprecedented post-pandemic costs 

Fashion brands including Tommy Hilfiger and Ralph Lauren are hiking up their prices amid unprecedented post-pandemic costs. 

Upmarket labels are reportedly being forced to increase their prices for their Autumn/Winter 2022 ranges due to a huge rise in shipping costs, cotton prices and expensive European exports after Brexit. 

Some brands are planning to spike costs as much as 20 per cent, sources told The Sunday Times, while some other brands have already jacked up prices by almost 30 per cent. 

British consumers face a crippling cost of living crisis – as the price of petrol, food, energy, transport and housing continues to rise – with two-thirds of UK adults seeing their cost of living jump last month.  

Prices for Diesel are said to be set to rise by 20 per cent, with a pair of the brand’s jeans costing an additional £20.  

Tommy Hilfiger’s classic trainers will see an increase of £15 while Ralph Lauren and Coach are said to be raising prices on shoes by between 10 and 12 per cent. 

Lacoste said its average increase on footwear was around five per cent while Next predict a six per cent increase for the Autumn/Winter season. 

French fashion house Chanel has reportedly already raised prices, with the brand’s iconic flap handbag jumping by almost 30 per cent to £6,630 from £5,780 in one year.  

French fashion house Chanel has reportedly already raised prices, with the brand’s iconic flap handbag jumping by almost 30 per cent to £6,630 from £5,780 in one year

The fashion house increased the price of its bags four times during the pandemic, with costs rising by almost 50 per cent from 2019 to 2021. 

According to the publication, the rise is down to an eightfold increase in shipping costs, doubled cotton prices and an increase in the Chinese minimum wage. 

Brexit has also had an effect, with European clothing suppliers required to pay duties when exporting clothes sourced from Asia to the UK.  

Last month, the Office for National Statistics (ONS) revealed clothes shops increased prices by an average 4.2 per cent year on year in December.   

Tommy Hilfiger’s classic trainers (pictured) will see an increase of £15 while Ralph Lauren and Coach are said to be raising prices on shoes by between 10 and 12 per cent

Superdry co-founder Julian Dunkerton said the company will hike prices by around 2% due to rising costs – after suffering a nearly £19 million loss when shops were closed in lockdown. 

The clothing brand plans to offset the cost hikes by slashing the number of items the retailer has on sale, something that has been part of its plan since before Covid. 

‘No stores will ever have a sale again… and discounting is limited to a shorter period online and very limited,’ Mr Dunkerton said. 

‘So patently we are less affected because of that margin shift internally by the headwinds of inflation.’