Monday, January 25, 2010

Sold Out: Chanel's Classic Jumbo

Luxury companies have found themselves in quite a pickle ever since consumers decided to halt discretionary spending. In the case of Chanel, the answer to navigating a choppy economy is simple: Raise prices and bring production to a pace that creates mass demand.

Starting February 1st, Chanel will be raising prices. How much? As usual, it depends on with whom you speak. A sales person from the SoHo Chanel boutique said the increase is just $50 to $100 on classic style bags. A sales person on Madison, however, said that a Classic jumbo caviar leather bag is going to $2995 from $2650. That's closer to a 15% increase. Other experts are quoting a 20% rise.

Let's put the price increase to the sideline for a moment because it's nearly impossible to even get a classic jumbo-sized Chanel bag--and yes, that includes the popular Reissue/2.55. A sales person at Saks Fifth Avenue says they have a waiting list with a few hundred people. The Chanel boutique on 57th Street says their waiting list has between 30 to 35 people listed.



Even second-hand stores have seen a run on Chanel bags. Decades II, located in Los Angeles, has an email list of customers that is quickly growing. The popular West-coast boutique gives customers a 30% discount on Chanel bags that are "new" with tags. The sales person that we spoke to was vague but suggested that the email alert list isn't quickly filling the needs of all who want a bag.

Even on eBay, Chanel jumbos are in high demand. Most successful auctions for new bags closed at about $3000. That's about $350 more than the current retail price.

Does all this lack of demand have you dreaming of snagging a quilted purse of your own? Don't worry, we already did the legwork. Below is pricing information and inventory status of Manhattan stores carrying Chanel. Please note, our contact person is not necessarily the source of the information provided.

Madison Avenue Chanel
Betsy 212-535-5505
Price: The jumbo in caviar will be $2995 from $2650.
Inventory: Nothing. Nothing. Really nothing. We can put your name down. A jumbo size caviar black bag with silver hardware has a waiting list of 6 people.

SoHo Chanel
Erma, Store Director 212-334-0055
Price: I believe the increase is about $50 to $100 on medium classics, large classics and jumbo classics.
Inventory: We don’t have any classics in basic colors in stock at all right now. We have bags in a bright colored silver, turquoise, copper pink and jersey. The list is 30 to 50 people long for each color, style and size.

N15 @ 57th St. Chanel
Erman 212-355-5050
Price: The price is going up a bit on Feb 1st.
Inventory: We have nothing at the moment. Nothing. No colors no sizes. All the boutiques have been sold out since Christmas and haven’t had a single shipment. The wait list depends on the bag. There is a long wait list for the jumbo size in caviar, about 30 to 35 people long.

Saks
Elmira 212-940-4347
Price: We don’t’ know exactly how much the price is going up, probably a few hundred.
Inventory: There are no jumbos in popular colors. Yesterday we found a large black bag with gold hardware, which was $2425. We have a jumbo in beige, brown, and fuchsia color.

Bergdorf Goodman
Barbara 212- 872-2858
Price: We don’t know exactly how much the price increase will be but expect it to be about $200 to $250, depending on the bag.
Inventory: Right now, we only have a beige bag that’s $3095 going up $500 after Feb 1st. Yes, there is a list. There are seven salespeople here and everyone has a list of four to five people. We usually get two or three bags at a time.

Bloomingdales
Lisa 212-705-2856
Price: We heard the price is going up about 20%.
Inventory: We don’t have any classic bags and we have a list of people 100 people waiting for a jumbo bag 100 people and about 80 people waiting for the large size. It’s crazy, in the past month we have had only 10 bags come in.

28 comments:

Anonymous said...

wow... I guess Chanel bags are a good investment. Should have bought more during last year's gift card events...

Anonymous said...

Interesting.

Anonymous said...

againnn????

Nicole said...

Will the shoe prices also rise? Will the flats be more expensive now?

Anonymous said...

people please...this is all related to the euro vs the dollar..

SoCalFashionista said...

well there goes any hope of getting one this year.

Gina said...

Weird. I purchased a jumbo caviar black 2.55 with gold hardware at my local Neiman's in King of Prussia, PA in October 2009 with little difficulty. The store had to order the bag, but it took only a few days. I paid $2,695, and I'm glad I purchased it when I did. The price had already increased a few hundred dollars since I first considered purchasing in 2007.

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Anonymous said...

The extreme difficulties for getting a jumbo really started in January when Chanel boutiques were confirming the feb 1st price increase on the classics. The word on the street is that stores get shipments every week. Let the stalking begin!

Anonymous said...

let the stalking begin?? girls have been stalking for a month now for the bags they want!

Anonymous said...

A month? Try October/November.

Anonymous said...

BG has several flap bags in beige and Saks had some chocolate brown reissues.

Chic Noir said...

I'm not paying 3k for channel. Too many logos on the bag. I prefer Givenchy.

Anonymous said...

BG has all the jumbo classic bags in all the colors!

Anonymous said...

chanel in soho has a large supply
little disappointed in this post lila

Anonymous said...

Not true. I just confirmed with soho chanel and they do not have any supply of classic flaps.

So I don't know where you're getting the idea of "a large supply."

Anonymous said...

Good thing I bought a jumbo two weeks ago at bloomingdales!

Anonymous said...

Nice dispatch and this post helped me alot in my college assignement. Thank you seeking your information.

Anonymous said...

what are peoples thoughts on the Chanel wallet on a chain?

Anonymous said...

I love the Wallet on a chain, for $1100 its perfect to fit your essentials for day or evening, and the chains work 3 ways, so its totally versatile!!

Anonymous said...

Keep posting stuff like this i really like it

Anonymous said...

Easily I agree but I think the list inform should secure more info then it has.

Anonymous said...

I heard that the sold out Cocoon bag will be in store in a few weeks. Do you know the average price of a nylon or leather version?

Thanks

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Anonymous said...

The Saks 5TH Ave in Beachwood Ohio has the jumbo i got my mother one for christmas and they had about 5 and they always have them, also i spent christmas in Las Vegas stayed at the Wynn/Encore and Both chanel store have TONS my mother got a nice croc jumbo bag in a white color its so nice and was $45,000 but its worth ever penny so try those places!!

Chanel classic said...

Chanel may be known for its timeless designs, but with the introduction of the Chanel 2.55 Chanel brings us a line that is both seductive and a slight change of pace. Unmistakably different, Chanel classic strays from the quilted Chanel Evening Bags we have come to expect from the brand.

fashion handbags said...

Kim Kardashian was spotted sitting on the the baggage carousel at JFK airport in New York with one of these Jumbo designer bags, she looked hella cool, but seriously, how many folk can actually afford one of these bags?

Great article anyways, thanks

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