Sunday, August 1, 2010

Confirmed: Chanel Raises Prices 20% to 30%

It's August 1st and that Chanel bag you've been saving up for may cost you 30% more than yesterday.

Medium Classic $2600 to $3400
Jumbo Classic $2995 to $3795
Jumbo Reissue $3600 to $4200

Saks, Bergodorfs, Bloomingdales and Chanel have already changed tickets and updated computer price information. It appears as if Nordstrom may be the only store that is holding prices steady for the next few day.

Handbags are not the only items that are soaring. An average Chanel flat usually ranges from $575 to $650. For Fall, many flats are priced at $895. Even a basic ballerina flat has gone from $585 to $685.

In such uncertain economic times one can only wonder why the prices of luxury items are skyrocketing. Last week, LVMH Moet Hennessy Louis Vuitton surprised analysts when it reported that second-quarter sales increased 22%. Nobody saw it coming. Hermes also said that revenue may grow as much as 12% this year.



What's driving this growth? One word: China. The Chinese middle class is growing exponentially and already represents 25% of the world's population. The country has gone from being the 20th largest oil consuming country to number two and is on track to becoming number one. Besides oil, the Chinese are consuming LOTS of luxury. The nouveau middle class has an insatiable thirst for European brands, which is diving up revenue and, you guessed it-- prices.

So China, we love dim sum but you've got to give us a break on Chanel and Hermes. We just can't keep up with this. Or, maybe, this is a grand plot to drive up the desire for Chinese-made counterfeits. We don't know but we're just throwing out the idea.

Photo Credit: LIBN

25 comments:

Anonymous said...

poor fucking loser, blame Chinese for price raise. shame on you!

Anonymous said...

what do you mean egg roll loser?
how about some mac n cheese?

Anonymous said...

Of course it's all Chinese women's fault! Oh well, ppl would be expecting too much from no-brainer like you to understand the basic economy concept. You brainless loser.

Anonymous said...

dont be mad just because you are so poor and we have more money than you.

Anonymous said...

just can't believe I see such article with no common sense in 21st century....

Anonymous said...

Omg. Everyone needs to chill. Lighten up.

Anonymous said...

Oh that's just dumb and racist!

Anonymous said...

I use to have a lot respect for your blog and all the good deals you find and share with your audience.

But then you have lost some with me because of your comments about dim sum and fake goods.

Not that there's any wrong with those comments in it of itself. There's some truth to it obviously but don't just throw them in there purely to make jokes.

That's just racist and if that's not your intent some sensitivity to how it may offend some of your readers probably can go a long way.

Anonymous said...

LOSER!

Anonymous said...

you can work for chinese people...then you will have the money to buy chanel...

oh wait...they say no losers..

Anonymous said...

What the hell is that China/dimsum/counterfeit goods comment all about?!

1) That is completely racist, 2) your reasoning has no factual basis. it's retarded. therefore, you must be retarded.

How do you possibly think you can get away with this? Regardless of whatever poor excuse you can come up with, it shows a complete lack of judgment. I would be worried if I were you.

~John

Anonymous said...

First of all, I see no reason to curse or scream.

It does seem odd that prices and earnings are increasing in these economic times....the author is clearly trying to find a plausible explanation for the situation.

Let's face it-- the chinese population is very large-- it should be a compliment that the growing middle class is able to afford European luxury goods! (Big joke on our economy, btw!)

This blog is to update us on sales! I read this blog because I am looking for deals! I dislike paying retail-- so I am against anyone who is driving up prices-- Black, white, yellow, red, pink, etc.

Why are we soo quick to claim racism?! What is wrong with saying what appears to make sense? Has anyone a better/ alternative explanation? Do tell....

Let's just lay off of each other for a second, get some perspective and focus on the sales!!!

A.

Anonymous said...

good job deleting comments and editing your post. you showed your true racist colors when u decided to combine dimsum, eggrolls, and counterfeit in one lame joke. sorry but you are pathetic

Anonymous said...

Yes, the increase in Chinese consumption of luxury goods is a grand plot to drive up sales of Chinese counterfeit goods. The Chinese are becoming wealthier and wealthier, and at a faster rate than any other country in the world. Maybe counterfeits are all you are able to afford.
Those who still snicker at the Chinese should really wake up and see what has been going on with the global economy.

Anonymous said...

Wow, some thin sensitive skins out there! Relax and go try on a pair of overpriced ballet flats....

Anonymous said...

What a RACIST sentiment!

Your snide remarks are DISTASTEFUL and IGNORANT and it's not something a credible blog would ever post. So I suppose credibility goes out the window for this blog. You will undoubtly lose a great deal of your readership because of this tackless racism.

Anonymous said...

"...you've got to give us a break on Chanel and Hermes."

Did we ever think to give anyone else a break?

Fools.

Anonymous said...

well, at least they saved up and bought with cash. You Americans when buying houses you can NOT afford and driving the whole world to the ground with your worthless IOUs, please give the world a break!

Anonymous said...

u loser~racist~~go the hell

Tom said...

It's pretty interesting the way people "talk" to each other when they are anonymous. Pretty easy to throw around words like "racist," "retard," and "loser," when the object of your tirade can't see your face. Btw, the use of the word "retard" as an insult is as ignorant as an eggroll joke. I'm all for expressing your anger and disappointment, but all of the virulence makes it hard to take any of those posts seriously.

Anonymous said...

There's no need to call people names and to insult one another. Yes, it was tasteless and a bad judgment call to use dim sum/China in the same sentence, which further added fuel to some readers as it was somewhat of a racist comment. People use it so loosely that they don't realize what they are doing and how they are adding to the overall ignorance of it all. However, please bare in mind that there's a lot more to worry about than a lame comment and a $3000+ Chanel bag.

Anonymous said...

You guys need to seriously Chill.

It is an interestingly ironic factoid that China is a huge Luxury consumer AND yet the largest producer of counterfeit goods. Just from a sociological perspective that is interesting. That comment should not be attacked.

Lila, you're on your own with the Dim Sum comment :-)

James said...

Im sure most of these comments are by one or two people. The post was obviously meant in jest. Editorial writers routinely joke and poke fun at stereotypes to make a point or to lighten up a story. The outrage is pretty lame. Anybody who would take the post seriously has no sense of humor or is way too sensitive.

Anonymous said...

This post was profoundly racists. Pretending that it was a joke doesn't fly. Anyone who thinks it's funny needs a better sense of humor. It was also unbelievably stupid. Prices on all luxury accessories are soaring, especially footwear due to increased demand globally. Despite the recession, demand is up in the US, because accessories are viewed as more affordable by consumers

Anonymous said...

OR...possible explanation: Karl Lagerfeld needs MORE cash to rain down and catch on fire at his next runway fashion show.