Do these reported price increases hold a basis in fact or just in feeling?
Consumers have claimed on social media that luxury fashion house Chanel has increased the prices of its items.
Do these observations have basis? This is what you should know about the reported price increases of Chanel products.
At a glance
Chanel enforced at least three price hikes in 2021. Although major luxury brands have raised prices during the COVID-19 pandemic, Reuters noted Chanel as “more aggressive than rivals.”
A small classic handbag cost 7,750 euros in March. However, the same bag cost 5,500 euros in January 2021 and 4,550 euros in November 2019.
“What has been implemented yesterday is not a price increase, but a harmonization of the prices of our entire in-store offer, a principle we have been applying since 2015. And [this] aims to avoid excessive price disparities between the markets where we are present,” Chanel previously said in a statement.
@joannaoworld #chanelpriceincrease is comfirmed! 😱 #chanelclassicflap #chanelbag #luxurybrands #fashionnews #luxurytok #luxuryshopping #luxurylifestyle #brandstrategy ♬ BREAK MY SOUL – Beyoncé
One popular TikTok video cited the blog PurseBop, which cited Chanel prices ranging from 8,450 to 10,500 euros.
Based on the prices of the Chanel Classic Flap Bags on the official website, these reported prices are indeed accurate.
Moreover, the near 10-percent price increase is also precise, relative to the prices recorded in March.
Banner Photo by Mona Siswanto on Unsplash.
