So, anyone who know le me on tPF or real life knows I like luxury but refuse to
waste money. That being said, let me be a contrarian for a moment.
Many TPF’rs have expressed discontent in past years over previous price increases. But, for those of us who
hadn’t bought Chanel during the lower priced heyday yet, still wanted and could afford the bags at then current prices, what were we to do? Be sad on the sidelines with Michael Kors as you enjoyed your bags???
No, as handbag lovers, we “had” to buy. Personally, I bought some preloved (one at more than original retail because I wanted it pristine) and then
still had to buy some things new to get what I wanted. Most people, however, just bit the bullet and bought all new. (God bless y’all.) Now I’m Chanel content and don’t feel any urgency to buy.
So, the first point I want to make is that it’s fine for we who are now content to click our tongues and frown in consternation over the latest increase (of many). But, new buyers enter the market and will (want to / need to / be able to) buy at these prices.
Second, Chanel is Chanel. I am not a Hermès fan so, with all due respect, no other brand than Chanel says luxury, spoiled, I’m pampered, I’ve arrived, I know quality, I have status -
with a feminine ethos - like Chanel. Now, let me be clear, in recent months, I have moved to Dior for many of my new bags . I adore Dior. The quality is better. (Yes It is. Lol!), the designs are broader and more fresh while the price is lower. But, the cache isn’t as equal across most psyches as Chanel is.
Candidly. Chanel is...Chanel. I can’t say I won’t be drawn in at a stupid price if they come out with the perfect color on the perfect style in the perfect material. Lol.
Third point, maybe Chanel is trying to be the less equestrian and drab / more feminine alternative to Hermès. People do (IMHO) ridiculous things to get an Hermès - wait in looooong lines, spend lots of money with an SA on things they don’t want to build a relationship, buy a bag they don’t want to possibly get one they do, etc. We can all agree that Chanel quality is not Hermès quality. But, isn’t it possible for them to get close to - even if they can’t comlpletely replicate - the Hermès madness? And, that cache would cascade to the
entire brand making price increase on clothing, shoes, etc. for Chanel more viable meaning more profit.
Lastly, these are luxury goods. Honestly, why are we talking price? Billionaires and millionaires (I’d bet at least 90% of those aged 40+ on tPf have at
least $1M in assets. In the US, where I live, that isn’t a hard goal. We have European old money And, in areas like Asia there is a still huge growing pop) can still easily afford the random Chanel at a whim. And, given that most women have one - five purses at most, one $6k - $10k bag purchase for them is a nothingness.
So, no, the recent price increases aren’t insane. Chanel has some plan (I gotta believe they have good marketers who understand the fundamentals of price sensitivity) though I’m not a part of it. I won’t pay $7k+ for a Chanel bag when I prefer the single flap that are out of production AND have a a number of Chanel items that keep me happy. But, I’m just one gal. The world keeps moving.
. People will still buy though in an attempt to get a bag before yet another increase! we have all been there. I wonder if it will ever end. Mulberry raised prices dramatically and lost followers, Chanel as a an aspirational brand though is much stronger. For now they have lost me. Good luck everyone Xx
