According to Citi’s latest luxury pricing tracker, Prada, Balenciaga, and Omega raised prices significantly at the end of February — by around 4% for Prada and Balenciaga, and 6% for Omega. The report, which monitors 18 major brands across key global markets, notes that while half of the tracked brands have yet to adjust prices, more increases are expected in the coming weeks. Prada raised prices on 45% of its products after an earlier adjustment on 25% of items; Balenciaga increased prices on 25% of its lineup; and Omega applied the 6% hike to 10% of its range. Citi estimates these adjustments will drive modest annual revenue growth — about 2.5% for Prada, and 1% each for Balenciaga and Omega. In Japan, where weak yen continues to fuel tourist spending, price hikes are projected to reach 5% to 10% in 2024, with Prada and Balenciaga already increasing prices by 4% and 6%, respectively. Analysts warn that sustained price gaps between regions may create arbitrage opportunities and pressure profit margins.