Chanel’s latest price increase has us all baffled at The Luxaholic HQ. When in a pandemic (as though we have lived through many), people are scrambling looking for bargains or luxury that has been heavily discounted. We have seen a few luxury brands go on sale but the most coveted brands have inversely increased their prices, none however have had the shock factor as had the Chanel increases.
Louis Vuitton had also increased their prices without so much as a groan at the beginning of 2020, but the increases were some what incremental. Chanel has increased their pricing at least here in Australia by up to 30% on the mini square! It’s a staggering increase and quite honestly, nausea inducing for those that have been pining for a Chanel bag.
*SCREAMS* How could you Chanel?!
Oh but they can. Chanel’s target market isn’t those who scrimp and save for a *cough* once-in-a-life-time bag. Their target market (sadly) is the person who can waltz into the boutique and purchase multiple Chanel bags without flinching at the price.
Their price increase is as snooty as some of their sales associates and in some regards, it’s in keeping with their ‘brands’ elusiveness.
Latest AU prices compared to previous prices can be viewed in the below image.
We have also heard rumours that Chanel was holding back stock purposely so that they could achieve the new price point. Following the price increase, hard to get bags have miraculously made their way onto the boutique floors. Grrrrrrrr….
So what do we think about this price increase?
Well, truthfully we had no time to think about it! We panicked. We raced into store the day before the increase and purchased our holy grail bag.
Hello Chanel Boy!
We paid $7,620 for the Chanel Boy (wince) but it’s nothing on the new price of $8,390.
We also scored a Chanel Boy O-case to match, and yes, small leather goods also had an increase.
Yes, we caved under pressure and we are inwardly ashamed.
BUT, we justify it by saying to ourselves ‘it’s not called an ‘investment’ unless it appreciates in value, RIGHT?’
Now we’re just waiting for the Chanel website to update to their new pricing so our eyes can bleed!
Are you holding onto your Chanel if you’re lucky to own one and continue to support the brand, or will you be like the majority of us plebeians, going the pre-loved route for sought after classics?