Article: Chanel is increasing their prices!! (again)
Chanel is increasing their prices!! (again)
Another Chanel price increase is imminent in January 2022. But hey, what's new? Chanel's price increases have become more of a habit than an exception in recent years.
The prices in the Chanel boutiques are not for everyone and especially with the multiple price increases every year, the brand is becoming more and more out of reach.
By hiking up the prices, Chanel is making their brand even more exclusive and hopes that the scarcity will create a greater desire for the brand. The brand is positioning itself in the realm of Hermès, up and away from the likes of Louis Vuitton and Gucci. Like Hermès, Chanel has also imposed purchasing limits, signaling to consumers and competitors how they view their brand equity in the industry. At this point, a Classic Medium Flap Bag is priced almost the same as the Hermès Calfskin Birkin. The question now is, which of these brands is more valuable or at least, perceived to be move valuable?
Since 2019, Chanel has continually increased it’s global prices for some of it’s most classic handbags like the Small Boy and the Classic Medium Flap. Prices have been increased on some of bags by nearly two-thirds since then.
How does Chanel’s strategy play out for the pre-loved market for Chanel bags?
Chanel is trying very hard to take control of the pre-loved market for their bags. Not long ago, they replaced the serial numbers and accompanying authenticity cards with NFC-compatible chips that trace the origin of a bag. These chips make it easier to verify purchases and easily locate the original purchaser of the bag. They expect this move to lower the number of resellers. Thank goodness, many vintage Chanel bags exist and also, the adoption of this new technology has not led to a reduction in number of resellers or consumer demand in the pre-lived segment.
Is a Chanel bag still worth it?
In recent years, the price of the Chanel Classic Flap Bag has increased by about USD 6,000 and this certainly doesn't feel like the end of the price hikes. Another price hike is coming and a Chanel bag is definitely an investment worthy pick.
We regularly receive Chanel bags for sale. Before another Chanel price hike is announced, find your Chanel Classic Flap Bag now, at The Plush Posh!
The prices in the Chanel boutiques are not for everyone and especially with the multiple price increases every year, the brand is becoming more and more out of reach.
By hiking up the prices, Chanel is making their brand even more exclusive and hopes that the scarcity will create a greater desire for the brand. The brand is positioning itself in the realm of Hermès, up and away from the likes of Louis Vuitton and Gucci. Like Hermès, Chanel has also imposed purchasing limits, signaling to consumers and competitors how they view their brand equity in the industry. At this point, a Classic Medium Flap Bag is priced almost the same as the Hermès Calfskin Birkin. The question now is, which of these brands is more valuable or at least, perceived to be move valuable?
Since 2019, Chanel has continually increased it’s global prices for some of it’s most classic handbags like the Small Boy and the Classic Medium Flap. Prices have been increased on some of bags by nearly two-thirds since then.
How does Chanel’s strategy play out for the pre-loved market for Chanel bags?
Chanel is trying very hard to take control of the pre-loved market for their bags. Not long ago, they replaced the serial numbers and accompanying authenticity cards with NFC-compatible chips that trace the origin of a bag. These chips make it easier to verify purchases and easily locate the original purchaser of the bag. They expect this move to lower the number of resellers. Thank goodness, many vintage Chanel bags exist and also, the adoption of this new technology has not led to a reduction in number of resellers or consumer demand in the pre-lived segment.
Is a Chanel bag still worth it?
In recent years, the price of the Chanel Classic Flap Bag has increased by about USD 6,000 and this certainly doesn't feel like the end of the price hikes. Another price hike is coming and a Chanel bag is definitely an investment worthy pick.
We regularly receive Chanel bags for sale. Before another Chanel price hike is announced, find your Chanel Classic Flap Bag now, at The Plush Posh!
Leave a comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.