Are we being unfair to Chanel re prices?

[monicabing]

I think when ppl first started saying “a Chanel bag is an investment” it was meant as an investment in your wardrobe. Like how you would “invest” in a high quality jacket, fine jewelry, etc. Because they will last you many years, go with everything else in your closet, always be in style, and make you happy when you wear them. Somehow it’s been twisted into an investment like real estate or the stock market which is ridiculous imo. Buy the bag, use it, and be happy. Buy some stocks now when it’s low as a true investment. Use profits to buy more bags. Win at life.

It does seem like Chanel wants to get to the same level as Hermes. They should up their quality standards, get the best leathers possible and bring back the old gold hardware. Imagine the demand they’d create if they were to announce a limited release, anniversary issue CF with vintage quality materials (but better).

 

[Lola24]

I am not very in tune with everything happening at Chanel but did hear noise about the most recent price increase. It proves that they are running a business like a business, maximizing profits for shareholders. Is it unfair? Not exactly because they answer to shareholders.

For the ones saying the prices right now take it away from being an "investment", IMHO, I dont think we can consider luxury bags as investments. There are actual investment vehicles that do this (stocks, t-bills, bonds, etc.). It just happened that Chanel bags more or less retain their value. Do you think about reselling your car when you purchase it? What about your primary residence, do you think about selling it before you even buy it? I think treating luxury bags as an investment is a marketing scheme from resale market that encourages us to buy more...

Exactly, I buy my pieces to use, not to plan on selling in the future for a profit or even think of them as an investment, an asset on the other hand sure because they do have value but a growing/investment asset, no! I only sell things if/when I conclude I will absolutely never use again, decide I truly do not like, or am unhappy with how it has worn and it's an item that even warrants being sold, otherwise things get donated or given to friends. It's of course nice when an item holds value, that you were able to use, decide you didn't love, and sell without taking a significant loss or even make a profit, but that certainly is never my intent going into the purchase. I always think about the saying, an item is only worth what someone is willing to pay for it. I guess right now Chanel thinks their classics are worth what they price them at and seemingly many, or as far as they are concerned, enough people are willing to pay that. This may not always be the case forever and certainly should never be a reason to buy them assuming the prices will keep going up and people will keep paying the price.

 

[Lola24]

IMO, All these houses started raising prices because of Chanel...Chanel kept doing it, so they started doing it. Chanel's sales only got better, profits soared. So, why would other houses also not do it? They were the pace car, again IMO.

Hermes hasn't raised prices, as a percentage, anywhere near what Chanel or the above houses have. They even stated at one point, during COVID, that any price increases were for *real" factors, actual prices of materials, labor, tariffs, etc, not a way to position themselves in the marketplace. If only these increases came with better quality of materials or craftsmanship, maybe they would seem less opportunistic ...more substantiated.

Capitalism is capitalism. All are "guilty" of testing limits with what customers are willing to pay, completely incommensurate with actual costs of production.

100% agree!

 

[daisygrl]

$250?! I wonder if we could ask for a price adjustment?

 

[PursePeace]

$250?! I wonder if we could ask for a price adjustment?

View attachment 5731648

We can commission a time-traveling machine, go back to 1955, buy our Chanel bag and still make a saving!

 

[CheckIfTheresACoupon]

I don’t get why when Chanel raises their price everyone is quick to say “oh it’s because they don’t want people who cannot afford to buy all categories“ “they only want the 1% shopping” “if you have to save up Chanel doesn’t want you as a customer”
HOWEVER when LV or YSL or Dior raise their prices I don’t hear that same language. Why is that? All the other brands are raising prices as well but this underlying classism and elitism conversation doesn’t take place.

 

[FlairBear]

I don’t get why when Chanel raises their price everyone is quick to say “oh it’s because they don’t want people who cannot afford to buy all categories“ “they only want the 1% shopping” “if you have to save up Chanel doesn’t want you as a customer”
HOWEVER when LV or YSL or Dior raise their prices I don’t hear that same language. Why is that? All the other brands are raising prices as well but this underlying classism and elitism conversation doesn’t take place.

I am assuming because Chanel’s prices have been huge for the classic flaps the last few years…

For the Medium..
2018: $5,600, 2019: $5,800, 2020: $6,500, 2021: $7,800, 2022: $8,800, 2023: $10,200

In the last 3 years the medium, has gone up $3700 and in increments of $1000 or more. Also people see the $10k+ price tag and think $$$.

Although others like Dior and LV have had price increases, their price increases haven’t been so aggressive including on their signature/classic lines.

For example, in the last 3 years, my Medium Lady Dior has gone up $1200 and in 2 years, my LV Cappucines have gone up $1750. All these price increases are much lower than Chanel’s. These are their normal classic lines (excluding exotics or limited editions) which are on the higher end of their pricing. Also you have way more selection to buy a bag from a different line. LV’s entry level pieces are much more attainable. At Chanel, their lower end bags are $4900 and up while the classic is over $10k. At Dior you can get an alternative flap, with Dior classic/signature quilting, the Caro, for $4600. You definitely can get more for your money at LV or Dior and all under $10k.

 

[azi’s closet]

if I have unlimited funds, I will buy 10 plus mansions across the global, 2- 3 jets to take me to these places, 10 Lamborghini in all colors, then come to bags, who cares, why would I need any bags if I will have dozens assistants carrying stuff for me?

Hahahah seriously

 

[Lola24]

I don’t get why when Chanel raises their price everyone is quick to say “oh it’s because they don’t want people who cannot afford to buy all categories“ “they only want the 1% shopping” “if you have to save up Chanel doesn’t want you as a customer”
HOWEVER when LV or YSL or Dior raise their prices I don’t hear that same language. Why is that? All the other brands are raising prices as well but this underlying classism and elitism conversation doesn’t take place.

These are HUGE increases, while sure I paid $600 for my LV speedy 35 in 2007 (to compare a classic to classic) which is now $1600 16 years later that is considerably different than a Chanel classic flap that was around $2000 in 2007 that is now over $10,000, that speedy increased 2.5 times while the CF increased 5 times. Their rate of increase is not consistent with other brands, and honestly I truly believe they are driving other brands to increase even more, I have been buying these things for 30 years, it's been crazy since Chanel started these heavy increases, it was not always quite like this! When I bought my first brand new LV from the store in the 90's, it was when the franc was still in use, they actually had a price decrease in the US to adjust to the different currencies, I paid $180 for my mini speedy, they called in the HL back then. A lot has changed with these design houses over the last 30 years!

 

[traxfever]

I am assuming because Chanel’s prices have been huge for the classic flaps the last few years…

For the Medium..
2018: $5,600, 2019: $5,800, 2020: $6,500, 2021: $7,800, 2022: $8,800, 2023: $10,200

In the last 3 years the medium, has gone up $3700 and in increments of $1000 or more. Also people see the $10k+ price tag and think $$$.

Although others like Dior and LV have had price increases, their price increases haven’t been so aggressive including on their signature/classic lines.

For example, in the last 3 years, my Medium Lady Dior has gone up $1200 and in 2 years, my LV Cappucines have gone up $1750. All these price increases are much lower than Chanel’s. These are their normal classic lines (excluding exotics or limited editions) which are on the higher end of their pricing. Also you have way more selection to buy a bag from a different line. LV’s entry level pieces are much more attainable. At Chanel, their lower end bags are $4900 and up while the classic is over $10k. At Dior you can get an alternative flap, with Dior classic/signature quilting, the Caro, for $4600. You definitely can get more for your money at LV or Dior and all under $10k.

Honestly the recent price increase wasn't going to stop me from looking for bags on my wishlist but seeing the medium flap price increase listed by year does make me reevaluate.

 

[Doodles78]

I am assuming because Chanel’s prices have been huge for the classic flaps the last few years…

For the Medium..
2018: $5,600, 2019: $5,800, 2020: $6,500, 2021: $7,800, 2022: $8,800, 2023: $10,200

In the last 3 years the medium, has gone up $3700 and in increments of $1000 or more. Also people see the $10k+ price tag and think $$$.

Although others like Dior and LV have had price increases, their price increases haven’t been so aggressive including on their signature/classic lines.

For example, in the last 3 years, my Medium Lady Dior has gone up $1200 and in 2 years, my LV Cappucines have gone up $1750. All these price increases are much lower than Chanel’s. These are their normal classic lines (excluding exotics or limited editions) which are on the higher end of their pricing. Also you have way more selection to buy a bag from a different line. LV’s entry level pieces are much more attainable. At Chanel, their lower end bags are $4900 and up while the classic is over $10k. At Dior you can get an alternative flap, with Dior classic/signature quilting, the Caro, for $4600. You definitely can get more for your money at LV or Dior and all under $10k.

OMG i remember all these increases but I think the one that made me maddest was the 2021. For some reason it seemed like so much more than I was used to paying AND no one was going anywhere so where was I gonna wear it? LOL

 

[FlairBear]

Honestly the recent price increase wasn't going to stop me from looking for bags on my wishlist but seeing the medium flap price increase listed by year does make me reevaluate.

Here are more examples of significant changes in price of bags I personally bought in the last two years just to show some of the actual prices….

Medium… 2021: $6500 to $6800 to $7800, 2022: $7800 to $8800, 2023: $10,200
Mini Tophandle… 2021: $4200 to $4800, 2022: $4800, 2023: $5400
Mini Reissue… 2021: $4000 to $4400, 2022: $4400, 2023: $4900
Mini Classic… 2021: $4000 to $4400, 2022: $4400, 2023: $4900
19 Small… 2021: $4800 to $5100 to $5700, 2022: $5700, 2023: $6400
Coco Handle Small/Mini…. 2021: $3800 to $4200 then $4600, 2022: $4600 to $5000, 2023: $5900
Coco Handle Medium…. 2021: $4200 to $4600 to $5000, 2022: $5000 to $5600(?), 2023: $6600
Trendy CC… 2021: $5100 to $5600, 2022: $5600 to $6100, 2023: $6900
Gabrielle Backpack… 2021: $3600 to $4500, 2022: $5000, 2023: N/A?

 

[lala_retro]

Here are more examples of significant changes in price of bags I personally bought in the last two years just to show some of the actual prices….

Medium… 2021: $6500 to $6800 to $7800, 2022: $7800 to $8800, 2023: $10,200
Mini Tophandle… 2021: $4200 to $4800, 2022: $4800, 2023: $5400
Mini Reissue… 2021: $4000 to $4400, 2022: $4400, 2023: $4900
Mini Classic… 2021: $4000 to $4400, 2022: $4400, 2023: $4900
19 Small… 2021: $4800 to $5100 to $5700, 2022: $5700, 2023: $6400
Coco Handle Small/Mini…. 2021: $3800 to $4200 then $4600, 2022: $4600 to $5000, 2023: $5900
Coco Handle Medium…. 2021: $4200 to $4600 to $5000, 2022: $5000 to $5600(?), 2023: $6600
Trendy CC… 2021: $5100 to $5600, 2022: $5600, 2023: $6900
Gabrielle Backpack: … 2021: $3600 to $4500, 2022: $5000, 2023: N/A?

Minor point, but small trendy cc went from $5600 in 2021 to $6100 in Q12022, now to $6900 in 2023

 

[gail13]

I think whats interesting to note is Chanel appears to want to have the same price points and exclusivity as Hermes. However, the resale of Chanel Classics is nothing like Hermes quota and their in demand bags. There is also alot of controversy over the transparency of the quality of materials used for Chanel products. A seasoned SA told me years ago that this was the business model Chanel was aspiring to. Who else remembers the good old days of no tax and triple points with CHANEL bought at Dept stores?

 

[onlyk]

Hahahah seriously

Seriously, I had already drew a line, because the economy is in terrible shape, and it does not look optimistic to me for the next 5 - 10 years, and I'm not that rich can put away $10,000 on a bag which may only can sell in hand for $5,000 if I need to turn it into cash quickly.

I'm not encomiast I only can make decision on what I see and how I feel, and I'm too old to put $10,000 on one single bag and hoping in 50 years it will triple it's value, to the end, I guess I'm too poor and too old for buying a Chanel bag at $10,000 or over $6,000 at this point.