Gucci price increase

7th House

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Aug 18, 2020
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I got priced out again. I wanted to buy another marmont mini in the brown colour but here in AU, it now costs $1750. I bought the black one last year at $1550. Now I'm eyeing their mini vanity bag in canvas and possibly the mini ophidia gg which will still be below $1650. (I can't get myself to spend more than $1650 on a bag so I end up with mini bags )
 

Bumbles

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May 27, 2009
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THIS!!! Omg I literally came here to find out about the increase. I went into Gucci today to purchase this exact WOC. I was in Gucci last month (20/05 to be exact) and it was $1890. Today I decided to take the plunge and the SA whips out the eftpos machine showing $2490 I really cannot comprehend this! I ended up buying it off mytheresa where it’s still $2090 at least :crybaby:with cashback app I’ll get around $50 back.
I know what you mean. Im so annoyed! A few weeks ago I was looking at a wallet for hubby for his bday. I wasn’t sure and tried to get some opinions from him on what he would like and in the end was going to pop into store to have a look and then decide. But nope, it increased. Was $180 increase on a wallet. Wow???!! That was high for a slg. I thought maybe $50 but $180! Not happy Gucci!!!
 

Taimi

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Mar 6, 2015
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I can’t understand these price hikes either, just can’t. And even though I don’t buy bags to sell them later, I can’t help but notice the major difference in prices between a new Gucci bag and a preloved one. I have the blooms Dionysus in red and blue. I bought the red directly from Gucci when it cost 1790 euros. Now it costs 2400 euros! I bought the blue one from Vestiaire and it was in brand new condition and I paid 900 euros for it. So the new one in red costs 1500 euros more. I love the new Blondie bag in brown leather but I just can’t pay almost 3000 euros for it! It’s just too much.
 
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papertiger

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I can’t understand these price hikes either, just can’t. And even though I don’t buy bags to sell them later, I can’t help but notice the major difference in prices between a new Gucci bag and a preloved one. I have the blooms Dionysus in red and blue. I bought the red directly from Gucci when it cost 1790 euros. Now it costs 2400 euros! I bought the blue one from Vestiaire and it was in brand new condition and I paid 900 euros for it. So the new one in red costs 1500 euros more. I love the new Blondie bag in brown leather but I just can’t pay almost 3000 euros for it! It’s just too much.
Gucci make most of their money from 'everyman' and not the elites of this world. They have stores in almost every city and resort, multiples in capital cities, plus concessions in dept stores. Gucci is available from almost every 'luxury' website, pre-loved emporium and independent outlet. NAP, Matches, The Real Real, YOOX to Gucci outlets, if people just want a Gucci 'thing' that have so many choices.

Gucci's profits come as much for making (including tanning) for other brands than from consumer sales, so these consumer sale policies are not the lead on Gucci's growth. It's more about brand perception and market-share IMO. However, I think they are trying to be everything to too many demographics.

Full retail, they have way too much competition at the top-end.

A LARGE Bamboo Top Handle was £1.6K 2011.

Most bags were around the £1-1.5K (Price adjust for your local currency) until 2015. AM became CD late 2015, but lets say 2016, so the was around 7 years ago same time as the CEO changed too.

Now most bags (besides little cross-bodies) cost around £2-2.5K.

Feb 2022 the all-black MED BTH cost £2900.

May '22 The MED BTH costs £3,430


I feel Gucci is pushing prices for normal leather bags to £3K.

Whose wages have gone up 100% in the last 7 years? Who earns 20% more the last 6 months?


The last 20 years' growth has come from expansion East, the 10 years before that the new rich Russians and a more Western-style aspirational ME, there is little geographical market growth available of 'strategy' size left to conquer, so Gucci have to go younger. Gucci want more Gen Z to buy their clothing (Adidas X Gucci, HA HA HA, Disney etc).

Gen Z are fashion forward (although I think it is just a fashion) and say they want to rent/share clothes, buy pre-loved Y2K/'90s, shop on Depop etc and brag on little their clothes cost them.Whilst Y2K collectibles continue to climb in value (LV mostly) Gucci hasn't produced many memorable 'specials' apart from the REAL/FAKE/Trouble Andrew collection and have relied on standard commercial collabs.

Separately, as @880 has posted about previously, the Chinese market is over 'revenge spending'. IMO, Chinese consumers are more interested in investment with high-value goods which is why they 'overspend' at H and Chanel, and fitting-in. When emulating 'old money' and status (international elite circles) Gucci's new policies do not offer classic investment opportunities or old-money aesthetics.


.
 

papertiger

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:flowers:
Any chance to know what it was before the recent increase? I would like to know how much I would pay „extra“ now.
Sorry, it's not one of the bags on my list II often take a screenshot for my SA).

If you ask in the Clubhouse on the Marmont thread, I am sure someone can help you. Maybe tag someone who's bought recently in Europe.
 
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7th House

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Aug 18, 2020
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I'm curious but you know how there's Gucci outlet in certain locations (unfortunately not in Australia)? When the price increases in the normal store, does the price increase in the outlet as well? Also any tips on how to be able to order from an outlet and get it shipped internationally? I live in Australia and have always been jealous that the UK, Italy, Japan have Gucci outlets!
 
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papertiger

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I'm curious but you know how there's Gucci outlet in certain locations (unfortunately not in Australia)? When the price increases in the normal store, does the price increase in the outlet as well? Also any tips on how to be able to order from an outlet and get it shipped internationally? I live in Australia and have always been jealous that the UK, Italy, Japan have Gucci outlets!
As far as I know there's only one official outlet in the UK and I've never been there (but love to go - and will one day)

Full retail price does affect the outlet prices but in the UK, on discounted goods, the original price must have been fixed for a few months before you can advertise it as 'original' (which is why Gucci used to put up prices on goods they were going to put on sale 3 months before the preview/public sale).