Wednesday, October 22, 2008

Dow -32% YTD, Chanel Raises Prices 20%

The economy is is the worst it's been in a generation with the Dow Jones Industrial average down about 32% for the year. However, Chanel's execs have decided that November 1 is the right time to raise prices 20%. Maybe luxury lives in a bubble but ...I just don't think so.

Nitrolicious reports that prices of Chanel classic bags are due to increase 20%. A Classic Caviar Jumbo Flap Bag is currently $2850 but come election day the same bag will be $3420. That's a lot of bank, $570 to be exact.

So if you have been dreaming of buying a purple or black 2.55 or a large or small Classic you might want to consider giving yourself an early holiday gift. However, if the economy keeps up the way it's going Chanel might have to do rollbacks a la Walmart.

Alexandria at Saks Chanel 212 940-4347 (Remember to time your purchase with double/ triple points and an EGC).


uclaboi said...

Bottega is raising prices by about 10% on Nov 3rd.

Anonymous said...

Just checked with a Chanel SA today, they are only increasing the prices on the classics by 3%. With the EUR/USD going down, it might be better to get it in Europe. Some European designers will lower their prices by 10-15% next month..

Anonymous said...

I just went to the store in bloomingdales, new york and they did not raise the price up!
it is still 2650! i asked the guy and he said they are raising the price next year!