Chanel's Prices to Increase
Chanel gets even higher end
You know one of our pet peeves about brands like Coach: We love their designs, but all the sudden we start spotting middle school kids carrying Coach bags and we're just not interested in them anymore. Chanel absolutely does not want that to happen -- which is why they're raising their prices.
We get it; really, we do. And it's not that we disagree with it. It's just that, well, isn't Chanel already expensive enough? And it's not like the company is just raising their prices a little bit. According to Madison Avenue Spy, the prices of Chanel bags (including reissues) are going up 20%. That's a lot!
A sales associate told the blog, "We don't want Chanel to become like Louis Vuitton. They are taking more of an Hermés approach where it can take three years to get the bag you like... We want Chanel to stay a lux item and not be Main Street."
Yes, it makes perfect sense. But we still say raising prices 20% is a bit too much. Chanel is already considered more high-end than Louis Vuitton at this point. Lila Delilah, from Madison Avenue Spy, contacted New York department stores to see if they could confirm the news. While many of them said they heard about reports but weren't sure when they will take effect, Bergdorf Goodman said they believe prices will be going up at the end of the month.
What do you think of Chanel's price increases? Are they raising their prices too much or do you think it's smart of the company?