Monday, July 19, 2010

Chanel Price Hike

We have some good Chanel news and some bad Chanel news. First the good news: Most department stores and Chanel boutiques are well stocked with classic style bags. Now, the bad news: Prices are rumored to skyrocket starting August 1st.

European Chanel experts tell us that prices of Classic style bags, which includes the Reissue, just went up 20% and now similar price hikes are anticipated state-wide. One sales associate theorized that rising demand and manufacturing difficulties are the cause for the rapid price increase.

"We don't want Chanel to become like Louis Vuitton. They are taking more of an Hermes approach where it can take three years to get the bag you like," she said. "We want Chanel to stay a lux item and not be Main Street."

Consider this: In 2008, a 227 Reissue was $2850. Today the same bag costs $3600 and could jump to $4100 if current indications are correct. That's an approximate 40% increase in just two years. There's nothing Main Street about that type of price shift. As a matter of fact it's not even Wall Street reality.

Remember, price hikes are always rumored and your stockpile of Chanel bags will not sustain you during a nuclear explosion. In the meantime, we canvased our local Chanel contacts and tend to believe that prices will go up August 1st. How much? Just enough to out-price Vuitton.



N15 @ 57th St. Chanel
Jane 212-355-5050
Price: Nothing is concrete but there have been a lot of rumors. We usually hear a week or two before and haven't been given any information yet.
Stock: We have very few. There is a black Maxi with silver hardware. We should be getting a lot of Jumbos in the next few weeks: red, brown, black and patent leather.

Saks Fifth Avenue
Mike 212-940-4347
Price: "Nothing is definite. I really haven't heard anything."
Stock: We have everything: Classics, 2.55s, black, navy, red, patent...

Bergdorf Goodman
Nicole 212- 872-2858
Price: Yes. Prices are going up at the end of the month. They were already adjusted in Europe and will be modified to stay equivalent.
Stock: Full inventory

Bloomingdales
Suzanne 212-705-2856
Price: We have heard a price increase is coming but don't know when or how much. Could be in a week or in ten months. I will be thoroughly shocked if the price increase is huge. That's just not going to happen.
Stock: Black Jumbos, Maxis and Minis.

5 comments:

chanello said...

I just want to say, I bought my black caviar w/ silver hardware Jumbo Classic for 1,950 in 2006.

sheesh.

I remember in like 01' a chanel jacket maxed out at 2k

If a chanel is going to be 4k, might as well not buy any bags for 8 years and get a birkin.

carolloveschanel said...

The prices for chanel bags in London Bond Street have went up by 22% for the classic caviar medium bag! I went into the store to purchase it and didnt as it was over £330 more than last month! So if the price hike hasn't hit NYC yet...it will! So sad as cant justify spending even more on the bag! wish I bought it in May when I intended do! arghhhh!

CZ said...

Just went to Saks and they confirmed the price hike of 20% starting August 1st...i should have got this years ago!!

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Anonymous said...

my friend just came back from paris today and reported that the medium caviar is now EUR2450!! And it's out of stock too! :(