All brands change prices to reflect the changing economy or material cost increases. However, Chanel has become well known for its consistent, annual price increases. And more often than not, for three price hikes within one year. Below, we’ll explore why Chanel price increases are a guarantee, and which bags to consider investing in.
Why does Chanel increase its prices?
There are a number of factors which influence the Chanel price increases. Most of these will affect other brands too:
- Increased labour costs. With wages rising to match the skill level of employees and inflation in different worldwide locations prices will rise. Like any other brand, Chanel increases costs to match this rise.
- Increased material and transport costs.
- General inflation within the economy.
However, there are other factors at play with Chanel’s pricing…
To ensure a Chanel bag isn’t cheaper in, for example, Brazil compared to France, Chanel keeps the worldwide value of each item the same for each country.
The prices are then simply converted to match that country’s currency, however, the value remains the same. This means that any large fluctuations in inflation or price within one country could influence Chanel prices worldwide.
Ultimately many people also believe that Chanel’s consistent price increases help to maintain their brand exclusivity. As disposable income increases for many people around the world, Chanel bags would become more and more affordable. This would essentially make luxury designer brands like Chanel less exclusive.
It’s a controversial marketing strategy that many brands would fail to pull off. But this exclusivity allows Chanel items to remain highly desirable and heavily discussed.
Which Chanel bags to invest in
All Chanel bags carry a high value. It’s the heritage and name that carry the most weight. However, there are a select few designer handbags that are definitely worth investing in.
The Chanel Flap Bag and the Boy Bag are both timeless classics that are official Vogue it-bags. These models are definitely worth investing in and adding to your collection.
Because of these consistent price increases, the best time to invest in Chanel is, as soon as possible!
Don’t rule out pre-loved and vintage Chanel…
Chanel price increases can be frustrating for those of us saving up for a dream bag. The continually moving goal posts are difficult to keep up with. Especially with the current economic climate.
If you’re finding it difficult to keep up with Chanel price increases, one of the best ways to invest in Chanel is by opting for a pre-loved or vintage Chanel bag. Instead of paying full retail prices, you can snag a Chanel bag at a reduced cost.
Browsing pre-loved luxury designer collections is a great way to discover iconic bags and unique vintage pieces. Buying a pre-loved Chanel bag has plenty of additional benefits too, from saving money to sustainability. And when you find a Chanel bag in excellent condition, it’s definitely worth snapping up.
Looking to sell a Chanel bag?
If you find that your tastes have changed or you’re looking to slim down your Chanel collection, you’ll find that because of these continual price increases, Chanel items hold their value extremely well. Many Chanel bag owners are even astonished to find that the resale value of their bag can be higher than the original retail price they paid.
Even vintage Chanel bags with substantial markings or wear can hold astonishing secondhand value. We have a valuation service here on Timeless Vintage Co. Simply fill out our online form and our in-house team will evaluate the condition, and give you a current market value for your Chanel bag.
Featured Image: Chanel shopping bags | Photo by Laura Chouette on Unsplash