Luxury fashion – the latest Chanel price increases

Chanel Fall-Winter 2020-2021 Paris

Image @Pinterest

Any luxury addict will know that designer brands have several price increases during the year. However the latest price increases to hit the market have sent shock waves around the luxury fashion community. 

What brands are affected?

Chanel has caused the biggest stir with their latest price increase and Louis Vuitton have since followed suit. Chanel are one of the more expensive luxury brands out there and it can be really disappointing when they put their prices up, especially if you have been saving for a while to get your hands on one of their iconic pieces.

It seems that is mainly the Chanel handbags and SLGs that have been affected by the recent prices increases and they actually decided to remove all handbag pricing on their website. The handbags are now showing as ‘prices available upon request’, meaning that you will now have to ask a sales assistant for advice and have no idea how much each piece is beforehand. Shoppers often like to know what they can expect to pay for items in advance, especially when they come with such a large price tag and we all know that the customer service for this brand is certainly not the most helpful or friendliest so this is going to put a lot of people off. 

Now that these two brands have actioned their recent aggressive price increases, we can expect many other brands to follow and do the same unfortunately. So if you have your eye on something from another luxury brand, now would certainty be the time to buy to avoid being stung with a price increase down the line!

What styles are affected?

Louis Vuitton have increased the pricing across their full handbag line. Unfortunately many styles have been out of stock for weeks and even months so if you have been waiting for a long time to buy a particular style, you are now going to face a higher price than before while you remain waiting.

For Chanel, not all handbags seem to have been increased, however it’s mainly the iconic classic styles that have been hit with the new prices such as the 11.12 and 2.55, as well as Boy, Gabrielle, Chanel 19 bags – plus certain small leather goods. The Boy bags took less of a hit but this will be because they are not as in demand as they once were.

What do the price increases look like?

According to Purse Blog, the below are examples of the main price increases within Europe.

Prices will vary depending on what part of the world you buy from, so the USA prices will be often very different to say Paris or London. 

Classic Bag Prices

STYLE NEW PRICE OLD PRICE PERCENT INCREASE
Chanel Classic Mini Square Flap Bag €3,350 €2,680 25%
Chanel Classic Mini Rectangular Flap Bag €3,500 €3,050 14.8%
Chanel Classic Small Flap Bag €5,500 €4,550 20.9%
Chanel Classic Medium Flap Bag €6,050 €5,150 17.5%
Chanel Classic Jumbo Flap Bag €6,600 €5,700 15.8%
Chanel Classic Maxi Flap Bag €7,100 €6,200 14.5%

Reissue Bag Prices

STYLE NEW PRICE OLD PRICE PERCENT INCREASE
Chanel Reissue 224 Bag €5,500 €4,550 20.9%
Chanel Reissue 225 Bag €6,050 €5,150 17.5%
Chanel Reissue 226 Bag €6,600 €5,700 15.8%
Chanel Reissue 227 Bag €7,100 €6,200 14.5%

2-55-handbag

Boy Bag Prices

STYLE NEW PRICE OLD PRICE PERCENT INCREASE
Chanel Small Boy Flap Bag €4,300 €4,120 4.3%
Chanel Old Medium Quilted Boy Flap Bag €4,700 €4,480 4.9%
Chanel New Medium Boy Flap Bag €4,980 €4,980 0%

Gabrielle Bag Prices

STYLE NEW PRICE OLD PRICE PERCENT INCREASE
Gabrielle Small €3,900 €3,600 8.3%
Gabrielle Medium €4,100 €4,000 2.5%
Gabrielle Backpack €3,450 €3,280 4.9%

Chanel 19 Prices

STYLE NEW PRICE OLD PRICE PERCENT INCREASE
Chanel 19 Small Bag €4,600 €4,200 9.5%
Chanel 19 Large Bag €5,000 €4,700 6.3%
Chanel 19 Maxi Bag €5,500 €5,150 6.7%

Why such large price increases?

We all know that businesses around the globe have been affected by the dreaded C word – the recent Covid 19 virus. Factories overseas closed halting production, stores have been closed for a couple of months, sales staff have been put on furlough, and Chanel is a brand that do not sell online. Why they decided not to do this is not clear exactly, but I feel it’s to reduce how accessible they are and to help minimise the distribution of the brand, making them appear to be more exclusive – such as Hermes, one of the most prestige brands out there. It could also be that Chanel have been a little backwards in their acceptance of modern technology and deciding to keep to the more traditional route of luxury selling.

Going back to the Covid 19 situation though – Chanel have issued a statement saying that this is not related to Covid 19 and purely part of their twice yearly increases as well as factoring fluctuating exchange rates. However this is the largest price increase that I have seen from the brand (some styles increasing by a whopping 25% !!) and it has been quite shocking, especially during such an uncertain time.

Chanel stressed that “any price increases are implemented only after careful consideration, and are necessary for the brand to continue investing to maintain its core standards of creativity and craft.”

Final thoughts..

I personally think the price increases were extremely high this time and they’ve come at the worst possible timing with everything going on in the world at the moment. The brands that have had such large pricing hikes are pushing customers further away and making it more difficult for a lot of people to be able to be able to buy from them. Perhaps this is part of their brand strategy which is a shame.

So, what do you think about these latest price increases?

Will it put you off buying from luxury brands?

The most luxurious sports accessories of the moment

Image: Pinterest

These luxurious sports accessories are a sure way for every fashionista to be able to exercise in style! From basketball to skiing, tennis to skateboarding, the leading fashion designers have got all sporting activities covered. It’s the start of a brand new year (as well as a new decade) and usually top of everyone’s New Years Resolution list is to up their fitness game, so what better way than to get started with some of these fabulous items:

1) Louis Vuitton volley ball

The Louis Vuitton Monogram volley ball, Priced at £1680, is a combination of leather and canvas in a patchwork effect, creating a playful spin on the characteristic Louis Vuitton Monogram. This comes with a bag in similar colours, which also features Monogram details.

2) Chanel Basket Ball

The Chanel basketball with Chanel inscription in the classic black and gold, even comes with it’s own carrying chain. Around £2,000

3) Burberry Yoga Mat

The monogram Burberry yoga Mat, priced at £320

4) Supreme Skateboards

Supreme skateboards, spring-summer 2019 collection

5) Chanel surfboard

There have been several versions of the Chanel surfboards produced over the last few years, priced at around £7000 and only available upon request.

6) Chanel Tennis racket

Who can remember that episode of ‘Keeping up with the Kardashians’ with Kris Jenner and her Chanel tennis equipment? This racket and matching ball set will definitely turn heads on the court!

7) Chanel Ski wear

It’s clear to see that Chanel are leaders in this trend and they have been adding their logo to a variety of sports equipment. Recently, we’ve seen Kylie Jenner all over Instagram dressed head to toe in her Chanel and Fendi ski-wear, covered in the monogrammed logos.

If sports equipment is not your thing, you can still get involved with this trend with designer swimwear or winter accessories for skiing such as these Chanel earmuffs which are absolutely stunning. 

For hints and tips for buying luxury designer brands, head over to my recent blog post HERE.

I personally think this is such a fun way to link fashion and sports together in this way. Although I’m not too sure I would want to actually use the items considering how much they cost, and I would probably keep them as display items/collectors pieces instead as they are guaranteed to increase in value and become investments in the future. Either way, it’s making me want to get exercising and start my new year fitness regime!

Luxury shopping – should you buy in store or online?

Louis Vuitton store London

The luxury market is booming and has continued to grow over the last decade. Social media and celebrities have been two major factors in keeping our attention on the big name luxury brands and keeping everyone interested in buying the latest fashion pieces.

With most brands, the trend has been that the majority of shopping is done online and fashion retailers such as Asos, Pretty Little Thing and Missguided have taken the lead with this, becoming huge giants in the industry. On the flip side of this though, it has been affecting the sales on the high street and we are losing a lot of stores. This isn’t the same for the luxury market though as there are a lot of positive points for shopping for luxury goods online as well as in store.

The Online shopping experience

In 2017, luxury e-commerce grew by 23% which is more than three times faster than total luxury retail growth. Net-a-Porter were one of the first to bring global luxury fashion house products all together online. The online shopping experience that you get with them is fabulous, from the beautifully packaged parcels that they send you, to the extra special services they have such as delivery within the same day in London. Since the success of Net-a-Porter, there are now a lot of other similar websites such as FarFetch, Matches Fashion and My Theresa to name a few.

Luxury brands themselves though were pretty slow when it came to getting into e-commerce – Chanel being a good example of this. Perhaps they didn’t expect online shopping to become as huge as it has or perhaps they were not too bothered until they realised that every brand was moving into the digital world.

Netaporter shopping

image @ Pinterest

Savvy online spending

75% of luxury shoppers research online before they make their purchase which is a huge figure, however 72% of shoppers say that they actually prefer to purchase in store. This does not surprise me and I feel exactly the same way. If your going to spend a large amount of money on something you want to feel the product first, check that it fits and get an overall feel for what you are buying. A lot of shoppers are now doing this the other way around though, by trying the item in store first, and then buying it online using discount codes. Luisaviaroma are the best at offering discount codes and flash sales and are perfect for savvy shoppers that want to save themselves some coins.

Netaporter shopping

image @ Pinterest

Top 5 reasons to shop for Luxury goods online

  1. Using discount codes to get money off and for cheaper than the price you would pay in store.
  2. Some people feel uncomfortable shopping in designer stores which can have a reputation of being snooty with unhelpful shop assistants.
  3. It is a quick and easy process, with often same day delivery and a good returns policy. Some designer boutiques will not allow refunds, but give you in-store credit only.
  4. You can browse a selection of designer brands all under the one online destination.
  5. You can search for the same item over various online stores to find the best deal and again, often cheaper than in the boutiques,

The in-store shopping experience

For me, shopping in an actual boutique is a much more exciting experience than shopping online. Consumers want to feel special and be offered a good quality customer experience when they are buying luxury items. In stores like Louis Vuitton, Dior etc there is often a queuing system where you have to wait to be served by one of the sales assistants. This can take quite a long time which is the downside of this. However with the majority of these brands, you need to build a relationship with an SA (sales assistant) and they will help you when it comes to reserving the latest pieces from the new collections. Hermes is one of those brands where this is crucial. If you ever want to purchase a Birkin bag, you will only ever have the chance if you are a known regular shopper with a solid relationship with an SA.

Saint Laurent handbag

Beautiful surroundings

Luxury stores know that we are living in a digital world now but they still want us to go into the stores. They know the importance of looking fabulous and are creating insta-worthy spaces to inspire people and encourage new visitors into the store. This is great advertising for them as images are posted onto social media and it gets everyone excited about going to visit the store. The Alexander McQueen store on London’s Bond Street is like an art museum with a huge egg in the doorway like something out of a Lady Gaga music video, as well as having the windows covered with nets holding bejewelled beetles. Louis Vuitton have just opened their newly refurbished store and it is also incredible – which was to be expected. And look at the Dior flagship store in Paris – the displays they put on the front of the building are so beautiful and worth the visit to see them.

Dior store Paris

Dior store Lady Dior bag

Dior store Paris

Top 5 reasons to shop for Luxury goods in-store

  1. You get to experience the overall feel for the brand so much more in-store.
  2. For the first class customer service and experience
  3. Being able to build a relationship with an SA so that you have a point of contact within the brand and they can help you to source items before anyone else – especially those extra special items that are hard to track down or sold out.
  4. Your purchase will be wrapped in their branded box, tissue paper and carrier bag which will be beneficial if you are a collector or if you plan to sell the item in the future.
  5. Being able to try on the clothing, to check the fit and feel of the products you are buying so you can be 100% sure that you are happy with it.

Saint Laurent packaging

Saint Laurent packaging

I hope you enjoyed today’s blog post. How do you prefer to buy luxury goods?

What was the last thing you bought?

I would love to know your thoughts so leave a comment below.

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