Chanel has lost their mind with the price increases, and I agreed that the decline in quality has been very obvious in the recent years. Guess I'll be taking my money to Hermes and Dior, I'm not paying $10k on a Zara quality bag just so Chanel can continue to pay Blackpink Jennie millions of dollars to endorse their products.
Exactly. There isn’t anything special about the bags. They are mass produced with tones of quality issues, no 24K gold or anything! It’s a classic bag sure but there is nothing about the bag that warrants it being $10K
Even tho I love blackpink--100% agree these classic flaps don't warrant a $10K price tag. They're not handmade and how those crooked classic flap bags make it past quality is beyond me. 🤯
I’m curious what you think of my observation that on the one hand social media and the influencer phenomenon has driven sales way up for all of these luxury brands like Chanel & LV, but with that has come a loss of mystic & exclusivity. It’s a double edged sword for the brands and customers. Usually that type of free PR is very desirable for brands, but it’s also making these bags less special when “everyone” has them. Aside from greed & delusion I suspect Chanel is trying to hang on to it’s exclusivity and insure that not “everyone” can afford them. I also think the resale market, while great for customers, is not great for the brands for a variety of reasons. They may be thinking the fewer bags in circulation, the fewer will end up in resale, but customers may be more inclined to resell the higher the prices go and the more money can be made from resale. Just my thoughts, idk maybe I’m off base but it remains to be seen if & when Chanel reaches a tipping point.
I bought my Chanel medium flap for $4600 in 2017. Wish I had purchased two then 😩. Even then, I bought when I did bc Chanel was cranking up their prices
Same, I bought my first Chanel bag just under that price last year. I wanted to get another to complete my wishlist, but now it's over the £5k mark, it's now a no from me. I'm now looking at another luxury bag that's half that amount and just going to be super grateful with the one Chanel bag I have 😊
It’s so frustrating, a chanel bag used to be such a milestone that you want to work for and save up to buy it but now it’s so unbelievably expensive that it makes me not even want to save up for it because I don’t want to buy and signal to them that people will buy no matter what. Also I remember they had this huge increase right when the pandemic hit and so many people were laid off and it was just in such poor taste
That’s when I stopped buying them. The pandemic increase and the subsequent ones really rubbed me the wrong way. When you’re alienating even people that have the money to buy 10 Chanel bags at any price and the customer is saying “eff you! I’m taking my money elsewhere,” that’s a problem. Their reputation and brand is tarnished.
I have to imagine that the top 1-5% of their customers can and will sustain the sales (profits). I worked in a business once where one customer's spend singlehandedly equaled (funded) the bonuses for thousands of employees. A few whales can keep them swimming in cash and because the rest of us are priced out suddenly those folks can shop with no lines outside to bother them. It's gross but the game seems clear. They won't miss us b/c they don't want or need us.
@@jenniferjen5422 that would be great - that information might be available in their public earnings reporting. I believe some brands will indicate when money is going directly to workers (the PR is good).
It's really true . U have hit the nail on the head with that observation Chanel 's top clientele forms about 40% of their business revenue. These segment of consumers are price insensitive and they are recurring customers across all product lines of the company. Over these past few years, the number of ultra rich have in fact increased despite what the economy is going thru now. Chanel is going after these guys and maintain that exclusivity for these segment mostly. I also noticed that my SA will reserve the very very very good quality bags ( these bags seemed to have undergone strict quality control scrutiny) pieces for these guys so that's why Chanel don't really much care about the opinion of the rest of the larger segment consumers when we say quality has dropped. These VVVIP clients usually will have the first dip of the bags with the best quality that have undergone scrutiny. Only their feedback n opinions matter for the apparent fact that these guys buy plentifully from Chanel over n over again n Chanel wants to retain these whales. For the majority n the rest of us, we will save up to buy that only one or two aspirational pieces n that's it for the rest of our lives. Clearly we aren't the target customers. So with the price increases Chanel achieves two 🕝 objectives : 1. Maintain brand exclusivity 2. Increase profit margin without increasing more bag production to sell coz the steep increase in prices n the loyal top consumers ( who makes large recurring purchases, totally price inelastic) will more than make up for the lost sales from the rest of us. I do forsee the resale market will do very well. In fact sometimes , I picked up even better quality preloved pieces than from the boutique. Apparently this reputable reseller is a large clientele of Chanel n their consignees are mostly the rich women who get tired of their bags after awhile) at great prices n no quality issues .
You are absolutely right- it’s all about VALUE! And I wanted for my 40th Bday Chanel bag, because it’s something special. But the further I’m researching the subject, the more my doubts are growing. I’ve inner feelings that I won’t get as much joy as relevant for such amount of money I should pay…
This price increase is outrageous. The mini flap in the UK, is now worth £4130 and the small classic flap is now £8180. I'm happy to keep that money in an emergency fund, instead of spending it on a bag. 🍻
I just love how concise, precise and detailed your videos are! I still enjoy looking at your beauties and I may still one day get a pre-loved bag, but I’m no longer obsessed with having to own a Chanel bag. Life is so much more than Chanel 😊
I just returned from shopping Chanel on Worth Ave, Palm Beach. The store was late opening on Tuesday Feb. 28 and Wed. March 1. On both days, security asked me to wait outside for 10-15 minutes because they were having an extended meeting. The SA held a pair of heels, the Deauville tote and a WOC for me over night and never once mentioned a price increase! I purchased (on March 1). Those items will be delivered soon. I wish I would have seen it coming. I am a little put off about it. Had I known, one night of holding items would literally cost me more the next day, I would have pulled the trigger the same day and used my 2 weeks to consider whether I'd keep them. Thanks for the rundown.
I do think it would’ve been a classier approach if they told you the price would be changing the next day. Of course they’re not obligated to tell you anything, but sometimes smart business means having a long term view with the client experience in mind. I don’t blame you for feeling put off.
I own a total of 3 Chanel bags, a classic flap, a woc & a square mini...years ago. Even then I had slight buyers remorse. With that said my Chanel collection is complete lol pricing has become unjustified since quality doesn't seem to match the new tag. Really intrigued at such drastic increases...aggressive even. Not for the "elite" as much as it is for the "idiotic" for continuing to buy. Same bag...so what gives Chanel? Great video 👌🏽
You are so well-spoken and SO right--I was especially struck when you were discussing how there was "something there" for those of us that have been into Chanel for so long...but that unfortunately now, "that 'something', is fading". EXACTLY right. It bums me out a bit to have to admit it, but indeed that's how I'm feeling as well, after being such a loyal lover of the house for so many years.
I agree with u it is crazy! I bought my first Chanel small cf when it was $2500 LOL and it was beautiful 24k gold hw. Now I only own a rec mini when it was only $3800 but even then i thought it was insane. I will be buying pre owned Chanel if I ever want to add another - but most like not
I totally agree with you. All i can think of from Chanel is the word "Greedy" because they knew anyway, they will still have customers regardless of how much it has increased and they have tested it since pandemic and the demand is still there. Yes everything goes up (no denial about that) but this one is insane, and each increase is a whopping at least 10% and more and now seems like twice in a year. Phew.....really 1 am so happy to even have just 1 classic and one 19 small. No more classic for me. If i really want, i would get those seasonal one or minis, even that not that is cheap. Thanks for sharing.
I’m happy for folks that got into Chanel early! Now they can sell one bag and buy three from Givenchy, Chloé, or Burberry, or they treasure their collection that much more. To me this is NUTS with a quality decline.
Thanks for the detailed and thorough video! I was going to buy my very first Chanel bag for my 50th next month--just a WOC because I can't stomach paying anymore than 3K for a bag even though I can afford it. I've decided against it though. Going to look at Loewe instead and vintage Chanel that seems to have higher quality lambskin and gold plated hardware. My 3K will go a lot further there than these crazy Chanel boutique prices! I'll be happy with my Chanel boots and accessories I already own--maybe I don't need a handbag after all :)
exactly! although you can afford to pay the chanel bag, you started to justify the price. if you hesitated that means it's not worth it. there are other brands that can bring same quality or if not better ones..
The vintage pre-loved Chanel pieces will go up along with these crazy price increases. The only Chanel piece I have is the WOC which I got last year. I have yet to use it, I enjoy my LV pieces more. I can use them carefree.
@@elcute7933 I'm finding that I'm talking myself out of even one Chanel handbag too and wondering how often I'd even wear it, is it even my style to have a quilted bag, etc. Definitely going to take a look at other brands for my b.day gift to myself! Interesting that you have even used yours yet in several months.
@@Lee73Lee Chanel WOC is so tiny that I just don't find it practical. I want easy access for my iphone so I like cross body bag with front/back pocket. I find Pochette Metis from LV is so much better for my lifestyle. You don't want to spend thousands of dollars & not being able to use it to the fullest. Empreinte PM is still cheaper than the tiny Chanel WOC.
I have been following and watching your videos. This is my first time commented on this video. I am done with Chanel. Although i started my collection in 2021. But I am glad that i had completed my collections, 4 handbags and 6 slgs which i think is good enough to use it for the next few years. I will definitely not sell my bags away as the price now is too insane.
I totally agree with you! That’s why I went to the pre-loved market and got myself a classic flap WITH 24k plated gold hardware ❤ (WITHOUT breaking my bank). I most frustrated about Chenel not using 24k plated gold, compromising the quality, but crazily increasing their prices. 14:0714:09
The price increase was ridiculous. We all knew Chanel will have a price increase yearly or multiple times a year but this amount was insane... I was considering on purchasing a classic flap when it was $8,800. Even then it was a lot of money already. I won't be purchasing a classic flap in the boutiques anymore. It's just too much money. 10k is a lot for a bag. I might buy it preloved if I find a good deal closer to my budget but even then I'm okay without it now. I still have at least 1 Chanel bag in collection and I'm happy with, mini rectangular flap. The only bag I'm willing to purchase in store or preloved is my dream bag, Trendy CC. It also went from $6,100 to $6,900 currently. I'll probably just have 2 Chanel bags in my collection since the prices of Chanel bags is too expensive at this point.
I'm a guy who's not into handbags but I worked for luxury marketing, hence why I'm commenting. The luxury industry is built on a paradox: the more desirable the brand becomes, the more it sells but the more it sells, the less desirable it becomes. I would like to see a shift that society perceives custom made products as the pinnacle of luxury, not mass products from high in demand luxury brands. From bags to jewellery, there are always artisans, sometimes local ones, that can handcraft you a one of a kind luxury product. Every woman is beautiful and deserves to have the beautiful things she desires, without being manipulated by luxury brand marketing.
I was really considering purchasing my 1st Chanel bag over the past few months, but I've changed my mind. I fall into the category that I don't mind the price increase versus what it was years ago since I wasn't in the market then. What I really care about and value the most is the quality that I'm receiving for my money. Too many people have been complaining about quality control with Chanel. I can't justify a purchase if the brand does not value the customer by providing a high quality product for it's luxury pricing. I might consider Hermes even though you have to build a history which is an issue since aesthetically it's not really me. But at least I'll know that it's a company that stands behind their superb quality. On another note, people knock LV due to over saturation, but I own pieces that have been dragged through the ringer and back and still look great. LV has raised prices as well and some quality issues have become apparent, but they are priced more reasonably. Customers just need to stop buying from Chanel if they are not satisfied with how things are going.
Feeling good about my recently purchased pre-loved classic double flap, with, yes, the gold plated hardware. I searched and searched until I found the right one ❤ Would never buy new at these ridiculous prices!
@@AMarie_Mooch with patience and persistence you can find a good one hopefully within budget. Good Double flap not easiest to find but it can be done :) 80’s and 90’s bags are superb IMO
@@helenhall299 TheRealReal is notorious for selling fake Chanel bags and there are charges that Chanel have filed against them. Buyers need to stay far far away
@@rubiirae I did hear some of this- not sure if it’s just rumours. Personally I wouldn’t buy a high ticket item without seeing it. I was more suggesting it for getting acquainted with the inventory- what’s available/ features/ price points. Also, I would satisfy myself of authenticity as I said, with certificate or getting your own authentication and not just relying on what’s provided if you have doubts.
I always had a dream of owning a Chanel bag. Not anymore. I own a couple of LV. But now ai am looking into Loewe their prices are still not that high and the quality is there. Thank you for the info. 😊
Thanks for the information Cat! I can’t believe Chanel has the damn audacity to raise the price on that ugly gym bag looking 22. Seems like yesterday people were posting videos showing the bad quality on that “bag”.😤
This will only make the dupe or counterfeit market even stronger. As it is, LV is the most counterfeited bag ever and because of that, it's unappealing for me.
I feel like a fairly new Chanel customer since I started purchasing their bags in 2017 and I know so many people have been buying since way before that. Out of my 11 bags 9 of them fall into the categories of this recent price increase. I was shocked when I did the math that if I wanted to buy them all over again I would need to shell out $13,600 more than what I paid for them!!!!! My jumbo classic flap has literally doubled in price. I'm wondering if anyone else is feeling the way that I do that this price increase is going to make me want to use my bags less, not more. I noticed that with the last increase when the jumbo became $9500 I stopped using it except for maybe 1 or 2 occasions. And now that it's $11,000 I'm REALLY reluctant to take it out! I love all my bags and would never sell them because it would make me too sad to not have them anymore but then do they just become expensive decorations???
I’ve seen a number of comments here talking about how reluctant some are to carry these bags now. It makes me sad because these bags are meant to be used and enjoyed. It’s as if the new prices have created a burden. 😔
Pre-owned…the last time a classic flap had a 2 to 3 hundred dollar price tag on it was when Gabby debuted the bag in the 50’s. Classic flaps were about 1k in the 90’s 😊
Wow! It’s too much! I dont think I will be considering buying another one from Chanel. My collections are enough already.. thanks for sharing! With that price increase, I think I will be saving more for Hermes bag instead.
I bought my first classic flap in October. I had buyers remorse immediately I couldn’t believe I spent 8800 on a bag. It’s crazy. I love the bag but it was too much. I guess I’ll I just be happy I got it before this price increase
Absolutely RIDICULOUS!! No freeking way! The construction is CNC machine sewn, bonded/painted leather, not even solid brass 24K gold-plated hardware anymore. Their quality is crap now, buy vintage mid-90's or earlier if you're a serious collector. The value is simply not there anymore.
I was looking forward to your thoughts on this! I've grown my collection in the past several years but just looking back on the succession of increases so close together makes me feel a type of way. While I will enjoy what I have, it'll be awhile before I buy anything in store. Thank you for the video.
Would you consider making a video to discuss the brands that you think are still worth paying for despite the recent price increase in their bags, i.e., while taking into consideration the inflation we are experiencing, if the current quality and workmanship of a said brand's bags would still justify that price hike? I understand that this is very much a personal opinion on the branding itself, but I am curious to know if you think there should be a price ceiling before it's no longer worth making the purchase (Celine had a recent price increase to their Triomphe range and it got me thinking if the €200 increase to the classique triomphe bag is alright albeit the increase is minimal 🤔. Perhaps there should be a point where the prices are no longer justifiable - looking at Chanel and LV?). Thank you!
I bought my reissue 5-6 years ago and when this video popped up on my feed I felt a little nauseous. $10200?? Honestly, I love the bag, it's my daily beater and has only become better with time.. as soft as Bottega Veneta's famed buttery leather but none of the wear and tear you get from soft-from-the-box leathers. But I can't help but feel sheepish now, wondering what people must think of me if they ever happen to recognize it..
Great video.Loved your point at the end.I think Chanel are ruining the allure of the brand with price hikes so often Way to expensive as they were without yet another price increase!!!
For me, Chanel used to be that lux but obtainable vibe. Chanel always symbolised young and old feminine energy for me. Young people look fashionable in their items and old people look classy in their items. For me, because it is obtainable lux where you can purchase when you reach a milestone, I am not afraid to wear my Chanels. Now I am afraid of walking out the door in chanel because of the value of the bag now. The reason why I don't invest in Hermes because the bags are worth so much I am afraid of walking out the door with an Hermes. Now even if I have a Chanel, I am afraid to go out with it because the price has increased way too much. I still love my chanels though
The chart that showed the cost of a bag over the years was really interesting. Adjusted for inflation, $220 in 1955 is equal to $2,446 in 2023. So clearly the price increases are not about inflation!
The price increases are insane. I will keep what I have ; not buying anymore. I rather invest in my house 🏡 and my children’s education. ( not to say I was t doing that before) but I’ll invest in more than a bag that has notorious quality problems. Customer service is below standards! Why keep buying their bags? This was a great video. I came to your channel for a straight up conversation and facts. 😊
This increase really shocked me; not that I didn’t expect one but that it was this large for almost all bags. I have a mini reissue, a small cf (caramel), and a vintage medium cf, and the discontinued GST. I was thinking of adding another mini but this is the end of the line for me :) I’ll just enjoy what I have as well. It’s seriously not worth a down payment to a car!
They have lost their minds. It’s getting embarrassing to carry them. Trying to be Hermes on pricing even with all the defects. So not worth the price anymore. Glad I have my small classic & WOC! I wouldn’t pay these prices for new. “I’m out!”
Their prices are ridiculous but I’m sure super rich people will still buy them 🤷🏼♀️. I started dreaming of owning a Chanel bag when I was 17/18. A small classic flap was €1500 back then and I had the money to buy it, but I knew my mother would kick me out of the house for such a purchase so I thought “maybe when I finish college, live on my own and have a good salary…” Well then the economic crisis happened (no jobs in my field so taking up temporary minimum wage jobs) and I was diagnosed with chronic illness so unfortunately I never got to buy a bag. I’ve been trying to hunt down a classic flap card holder (that isn’t black) for about 2 years but it seems nearly impossible to get one without paying premium so I’m over it 😂.
Joseph Duclos, Delvaux, Loewe, Mark Cross... are respectable and high quality brands. I feel bad for the Chanel clients who still loved the brand and don't recognize it for the has been it is 🤷🏾♀️
Unless you’re very wealthy, I suspect we’d all get much more joy spending £10k on other things! I do regret not buying a Chanel bag years ago though (and keep thinking this every time there’s a price increase 😅)
I've noticed that the quality of Classic Flap bags, the quality is much above the rest of other Chanel bags. Non of my CFs has any issues, all perfect.
I have what I have, I no longer aspire to add anymore Chanel to my collection. The ridiculous price increases turned me off 2 years ago. I loved the brand but retirement is a better focus.
I can’t justify it. Would love a green or caramel brown. But I drew the line when I got my white one Feb 2022. Was thinking maybe a small boy but dang lol. I’ll chill with my old medium version.
Thank you for this detail videos , on the same note , Chanel it’s no longer reachable for me . Many of my friends are going vintage instead of new bags . There will always be a market , that’s just not me 😢
I was in a Chanel boutique not too long ago and the experience had completely turn me off. It doesn’t scream luxury but just snooty SA’s. The price increases are just plain greedy. Over the weekend I went to a Dior boutique and loved every min. The SA took his time and shown me all the bags I wanted to see and try on. He was patience. Took his time to explain everything to me. I left with a wonderful bag. The whole experience was phenomenal. The Dior’s SA told me because Chanel is still a private company they can increase the prices however they want. However, Dior, falling under LVMH, is subjected to price regulations. He said something along the line of they can’t increase more than 10% a year. I would not buy anything from Chanel. I will not support price gouging in this economy. No ma’am.
Something doesn’t sound right about what the Dior SA told you. Louis Vuitton also falls under LVMH and they’ve certainly had price increases well above 10% repeatedly over the past few years. 🤔 Nonetheless, interesting info. I’m glad you had a better shopping experience at Dior.
totally agree that they have gone crazy! no quality increase is ridiculous. i'd pay for dior over chanel any day now especially with their better service too. it also makes me more hesitant to wear my chanel bags now because of how much they cost now....i only wear them for weddings/special occasions
I don't like the price increase, but I think they'll be totally fine. They hit record revenue/profits in '21 and '22 despite all of their past price increases, so I don't think they think it's outlandish to try it again. I think they would stop only if '23 revenue declines. Just my humble opinion :)
They could improve their quality if they stopped doing 6+ seasons a year.. focus on one or two collections per year and make them incredible, maybe that would justify these prices in some way.
Outside of the price hike, the issue, to me, is quality. Spending such big money on a bag that falls short on quality doesn’t work for me. So it seems, there are two major concerns in regards to Chanel.
Exactly. These outrageous price increases are vulgar and the lack of quality just makes the whole thing even tackier. It goes against everything that Coco Chanel stood for and really taints the brand IMO.
My best guess is they’re trying to just price so only the Uber wealthy will buy. But I’m not sure those prices will make up for the lack of demand from the 1/2 bag a year customer. Idk I find that even the Uber wealthy have pricing tolerances, especially since the quality isn’t quite improving.
Super wealthy only carry Hermès on their hands. If anyone have $20000 spare for a bag why go for Chanel? Hermès is far superior than Chanel in every aspects
exactly. plus the uber rich will go to Hermes. Chanel's classic flaps won't sell that well when competing with Hermes bags. Chanel seasonal bags might have a chance of beating Hermes bags though (because Chanel seasonal bags in my opinion are prettier than Hermes), which is maybe why chanel increased the prices for seasonal bags
@@Serena_9 that was my thought. Like they might wear Chanel rtw, but I just can’t see them dropping that money on a Chanel bag with its current quality issues.
@@hhueter Actually, this is a great point. I often see older ladies shopping at Chanel and while I don’t want to judge based on looks, they seem to be quite wealthy “old money.” And they always go straight upstairs to the RTW. They don’t even glance at the bags. In fact, one time I saw two ladies walking past the bags and one said “it’s the same bags they had 20 years ago, nothing new.” I was surprised and it caught my attention enough that I remember it til this day!
I’m of the same opinion: I began to disassociate with Chanel in 2022 after a bad quality experience with the 22 Bag 🙄 it used to be expensive, but still within reach for so,e of us. The higher and higher prices do not correlate with quality. Even though I am spending on other things, hypothetically, I would rather spend discretionary income at Hermes now.
I was saving for my first Chanel bag (not a classic flap) and even though I still could save some more and get one, I think I’ll pass. 1,400 dollars overnight is just plain greed. The richest of the rich are obviously keeping them afloat so they’re good without us regular folks 🤷🏻♀️
No one likes these exorbitant increases in one shot, but ultimately they are a company whose focus is their profit margin. And they get to that any way they believe is best while maintaining their exclusivity. I love both Chanel and Hermes, and comparing the two is not really a comparison because their aesthetic is so different, and admittedly Hermes quality is impeccable. Although I personally have not had quality issues with any of my Chanel bags purchased in the last few years luckily. I do find it Interesting that I don’t ever hear anyone who buys Hermes complain about the fact that we have to buy a bag’s equivalent in dollars in other products that we may or may not really want, just to be offered a bag in a color and or size that we don’t want. And then people feel compelled to buy said bag for fear that another won’t be offered. And we go through all sorts of hoops to do it and so many get upset and depressed when their SA leaves or doesn’t offer a bag after their spend. It’s a bit crazy but people keep buying with the hope. It’s a bit nuts. And very expensive because most of those same people don’t want to spend 25 k on their birkin, but in the end they have. LV is decreasing their canvas pieces and pushing much more expensive leather goods for a much heftier price point. They are all just interested in keeping their exclusivity and luxury status and maximizing their profits. They don’t really owe explanations or true loyalty to customers. I heard someone say that their loyalty is to our credit card and I think that’s true. We all just keep buying those products so they figure they’ll keep doing it. If tomorrow at Hermes everyone stopped buying many thousands of dollars of products that they don’t want in order to get a bag, Hermes may loosen up on that requirement in order to offer a quota bag. Because the pre spend was not always a thing. 15 years ago you just put your name on a waiting list and you eventually got your birkin. They all do what the buyers tolerate. Zekoauthentication has a great article on her blog about the price increase and her thoughts which is very compelling. We can all just buy beautiful preloved pieces 8f we still want to buy.
@@pappyone6062 I can speak to London and NYC SAs. Chanel are horrific in both. Maybe they just know I'm never buying from them, lol. Hermes in London, in several locations, are all lovely and helpful. Madison Ave in NYC, not so much. I've been a customer for a long time and I've had occasions where I was refused entrance to the store. I've been sitting on a bag repair and hoping that after the madness of plague times, they will not be asshats. Wall street is lovely and 14th st is lovely, but Madison ave... Not doing Hermes any favours. The crew in Georgetown MD are also v nice. With the bags, just look for a consigner/reseller/personal shopper who can source it for you. I don't care about 'in store luxury experience' so I'd only be concerned with getting the configuration I desire. And as I don't desire a C, K or BI, have it easy. I know how frustrating it can be with the games.
As someone who worked in quality assurance I can tell you Chanel doesn't care about the customers. They know there will be people willing to pay just so they can have Chanel and if a few customers return faulty bags who cares
If I had to guess their sales have dropped overall by 36% - they are Trying to make up for sales losses. It makes me feel uncomfortable even using and wearing my bags.
I don’t think it’s about inflation anymore because I doubt it impacts big luxury company like C. Prob company sees that even with lowering their quality people still purchase their products 🤷🏻♀️ and even with ridiculous price increase there are still many people buy their products. The only way to postpone price increase prob with lower sales numbers (just to postpone) and customer stop panic buying before price increase
That’s hilarious. They must know that people will still buy their stuff even with those ridiculous prices. The people who are making those decisions must have ran the numbers and thought the demand was high enough
The uncomfortable truth is: If you have to save for Chanel then it is not really affordable then for you This is a status symbol , they have no incentive to improve the quality and the rich don’t care 🤷♂️ Chanel doesn’t force us to buy these bags. You can use $10k to buy 2-3 bags in another luxury house. I just don’t see the point in getting upset
I agree with a few of your points except that I don’t believe that if someone has to save for something that it means they can’t afford it. To apply this logic, does that mean if you save to buy your first home, you can’t truly afford it?
@@hellocatwalkcity I agree. But saving for a down payment for a home is different and we all need a place to live rent or buying These are high end luxury items that we want not need. I always enjoy your videos. Xoxo
@@daliaa5294 Point well received. I guess I just want to celebrate the discipline involved in working hard and saving for something you want. My husband saved to buy his first car in college. He saved for a year to pay for my engagement ring. I saved to pay for our wedding. If someone ever told us we couldn’t afford these things because we had to save up for them, I think I would’ve been perplexed. We could’ve gotten a smaller ring, skipped the big wedding, etc but I think sometimes in life, it’s nice to be able to earn your way and go after what you want through focus and discipline. I’m at a point in life where I don’t need to save for handbags, and it sounds like you may be in the same boat. But I still want to be sensitive to those who are diligently saving and may be feeling discouraged with the price increases. There was a time in my life when I couldn’t afford to even think about these luxuries, and now I’m so grateful for where I am. Part of what got me here is working hard, saving aggressively and investing early. I wasn’t born into wealth and if Chanel only wants to attract those who are born into ultra wealth, I think they’re missing an opportunity with aspiring customers, those who could become lifelong customers along the way. I appreciate the cordial dialogue. It’s always interesting to hear different POVs and I enjoyed reading yours. ❤
That is a very interesting POV. Price out the customer who only cares about the 1-2 bags every few years while focusing on the uber wealthy clientele who buys high volumes across the product offering, and often. It positions you more attractively to be acquired.
Never will own a Chanel way to expensive I don’t make 11 thousand dollars in 11 yrs I love ❤️ this video ty so much for sharing I know people sell dupes and I don’t know 🤷♀️ if it’s illegal to get one❤️❤️❤️❤️❤️❤️❤️❤️❤️
They do it because they can, plain and simple. They aren’t about what’s fair or the “right” way. It doesn’t matter if the economy is good or bad, they know that their target customers, the ultra rich, will still buy.
Hello! I'm one of the people who have been trying to save up to get my 1st chanel. With their price increases since 2020, I could not longer afford a brand new one. Chanel increase price per quarter since 2020?, so how much is the single yearly price increase per bag if we add up their quarterly price increase? Imo, totally uncalled for pricing strategy given their sub par quality~😖 So, I have given up on a brand new CP, and managed to source a preloved vintage chanel flap. Though there are scuffings, the quality and thickness of the lambskin is amazing for its age! Even the gold plated chain look gold instead of the nowadays pale gold or champagne gold. I hope to get a preloved reissue 255 too but I guess I will continue to keep a look out till I see a reasonable price; or just stick with 1 vintage chanel. PS: saw a seller post at $20k for a reissue 226 of Yr 2021. Omg! Such premium resale price is totally insane too and I actually feel upset when I see such resale ethics. Yes to sell at a premium is fine but not this..
If you need your bag repaired, Leather surgeons does a fabulous job for a very reasonable price! Also just watch and wait. The reissue goes for half or less than half the price on the preloved market. I love the reissue. I got my first 226 one from the boutique several years ago amd loved it so much I wanted another. I got a gorgeous deep red one during a fashionphile sale just after christmas last year for about $3700. It is missing the authenticity card but it is pristine! No sign of use at all. Got it authenticated with Zekoauthentication who is the foremost expert on Chanel and a sweetheart to work with. Go preloved for the reissue for sure! Good luck hunting!
Uhhmm 🤔. Do I prefer 10k invested somewhere else or in a bag I have to constantly baby 🤔? The answer is quite clear for me. I will keep on buying other luxury from other top brands but 10k for one bag only is a no for me.
This makes me think … what would be the smartest way to curate our collections. For example, if I bought a new bag for x amount of money now, and thought about letting go of another, wouldn`t it actually be smartest to ”buy now and sell later”? If I was thinking of letting go of some of the bags I already have bought, wouldn`t it be better to sell it next year rather than this year, as the prices are only going up? And when on that track of thoughts, wouldn`t it be better to keep the bags anyway, as investments, and not sell next year but just hold on to them. We think of bags emotionally and functionally, whether they spark joy, or whether we use them - but if we actually thought they were investments, is it actually smart to curate our collections if we already have bought them? Then on the other hand, as the prices are so high, what will be the resale market? Those who are able to spend high prices, why would they buy second hand if they could buy the bag new.
This is the right time for them to increase but the wrong time for us. Money is moving fast in these times with millionaires becoming billionaires over night. But Chanel you are so correct are outpricing the customers before the economy can adjust or we can get there in finances to purchase. So even if for a moment it makes them unreachable. I think LV who is the top money maker is more on point & was more gentle in recent 2023 increases. Luv the educated vlog. At this time I will not be purchasing Chanel until it is not considered an unreasonable purchase. To me I can't justify the purchase. TY!
Been saving and saving and saving and saving.... unfortunately this is not going to happen. To be disappointed with price increases that just keep on not having me reach my goal. I guess it's a sign and I take that money and spoil myself elsewhere. Thank you for this update.
Chanel has lost their mind with the price increases, and I agreed that the decline in quality has been very obvious in the recent years. Guess I'll be taking my money to Hermes and Dior, I'm not paying $10k on a Zara quality bag just so Chanel can continue to pay Blackpink Jennie millions of dollars to endorse their products.
Exactly. There isn’t anything special about the bags. They are mass produced with tones of quality issues, no 24K gold or anything! It’s a classic bag sure but there is nothing about the bag that warrants it being $10K
Even tho I love blackpink--100% agree these classic flaps don't warrant a $10K price tag. They're not handmade and how those crooked classic flap bags make it past quality is beyond me. 🤯
This was such a read. 😂😂😂
Well said
I’m curious what you think of my observation that on the one hand social media and the influencer phenomenon has driven sales way up for all of these luxury brands like Chanel & LV, but with that has come a loss of mystic & exclusivity. It’s a double edged sword for the brands and customers. Usually that type of free PR is very desirable for brands, but it’s also making these bags less special when “everyone” has them. Aside from greed & delusion I suspect Chanel is trying to hang on to it’s exclusivity and insure that not “everyone” can afford them. I also think the resale market, while great for customers, is not great for the brands for a variety of reasons. They may be thinking the fewer bags in circulation, the fewer will end up in resale, but customers may be more inclined to resell the higher the prices go and the more money can be made from resale. Just my thoughts, idk maybe I’m off base but it remains to be seen if & when Chanel reaches a tipping point.
I feel like past $5000, I start to question my opinions on a bag.
I bought my Chanel medium flap for $4600 in 2017. Wish I had purchased two then 😩. Even then, I bought when I did bc Chanel was cranking up their prices
Yup...after $5K a bag is no longer worth it to me. It's just a handbag.
The prices now, for what you get from Chanel ( which is terrible customer service once you buy) I would have to question my sanity to buy from them
Same, I bought my first Chanel bag just under that price last year. I wanted to get another to complete my wishlist, but now it's over the £5k mark, it's now a no from me. I'm now looking at another luxury bag that's half that amount and just going to be super grateful with the one Chanel bag I have 😊
Me, too!
Wow..even if i could afford the new pricing I wouldn't give them a dime. Thats outrageous
It's would be Foolish to do so.
It’s so frustrating, a chanel bag used to be such a milestone that you want to work for and save up to buy it but now it’s so unbelievably expensive that it makes me not even want to save up for it because I don’t want to buy and signal to them that people will buy no matter what. Also I remember they had this huge increase right when the pandemic hit and so many people were laid off and it was just in such poor taste
Yes it was, very poor taste. I quickly saw how they move as a brand.
That’s when I stopped buying them. The pandemic increase and the subsequent ones really rubbed me the wrong way. When you’re alienating even people that have the money to buy 10 Chanel bags at any price and the customer is saying “eff you! I’m taking my money elsewhere,” that’s a problem. Their reputation and brand is tarnished.
Most people who were buying Chanel bags between 2010-2020 have stopped buying them. I would [never] spend over $5k on a handbag.. It's just Foolish.
The bags are ugly
@@luckyyyinlove what bags do you like?
I have to imagine that the top 1-5% of their customers can and will sustain the sales (profits). I worked in a business once where one customer's spend singlehandedly equaled (funded) the bonuses for thousands of employees. A few whales can keep them swimming in cash and because the rest of us are priced out suddenly those folks can shop with no lines outside to bother them. It's gross but the game seems clear. They won't miss us b/c they don't want or need us.
Absolutely
Wonder if any of the profit increases are trickled down to the leather workers in the factories?
@@jenniferjen5422 that would be great - that information might be available in their public earnings reporting. I believe some brands will indicate when money is going directly to workers (the PR is good).
They’re going to be in for a rude awakening when even those 1-5% who can, don’t. I’m seeing more and more rich people not buy Chanel either.
It's really true . U have hit the nail on the head with that observation Chanel 's top clientele forms about 40% of their business revenue. These segment of consumers are price insensitive and they are recurring customers across all product lines of the company. Over these past few years, the number of ultra rich have in fact increased despite what the economy is going thru now. Chanel is going after these guys and maintain that exclusivity for these segment mostly.
I also noticed that my SA will reserve the very very very good quality bags ( these bags seemed to have undergone strict quality control scrutiny) pieces for these guys so that's why Chanel don't really much care about the opinion of the rest of the larger segment consumers when we say quality has dropped. These VVVIP clients usually will have the first dip of the bags with the best quality that have undergone scrutiny. Only their feedback n opinions matter for the apparent fact that these guys buy plentifully from Chanel over n over again n Chanel wants to retain these whales. For the majority n the rest of us, we will save up to buy that only one or two aspirational pieces n that's it for the rest of our lives. Clearly we aren't the target customers. So with the price increases Chanel achieves two 🕝 objectives : 1. Maintain brand exclusivity 2. Increase profit margin without increasing more bag production to sell coz the steep increase in prices n the loyal top consumers ( who makes large recurring purchases, totally price inelastic) will more than make up for the lost sales from the rest of us.
I do forsee the resale market will do very well. In fact sometimes , I picked up even better quality preloved pieces than from the boutique. Apparently this reputable reseller is a large clientele of Chanel n their consignees are mostly the rich women who get tired of their bags after awhile) at great prices n no quality issues .
You are absolutely right- it’s all about VALUE!
And I wanted for my 40th Bday Chanel bag, because it’s something special. But the further I’m researching the subject, the more my doubts are growing.
I’ve inner feelings that I won’t get as much joy as relevant for such amount of money I should pay…
Whatever it is, I hope you treat yourself to something lovely for your 40th. ❤
What's the point; they're ugly bags. I'm stunned they've climbed to this price.
The Chanel experience isn’t fun anymore, I’m happy with my pieces but I’m over it. Great Video ❤️
This price increase is outrageous. The mini flap in the UK, is now worth £4130 and the small classic flap is now £8180.
I'm happy to keep that money in an emergency fund, instead of spending it on a bag. 🍻
I just love how concise, precise and detailed your videos are! I still enjoy looking at your beauties and I may still one day get a pre-loved bag, but I’m no longer obsessed with having to own a Chanel bag. Life is so much more than Chanel 😊
“Life is so much more than Chanel” ❤️
Tell Maria Draganove that.. her whole life is Chanel 😨
I just returned from shopping Chanel on Worth Ave, Palm Beach. The store was late opening on Tuesday Feb. 28 and Wed. March 1. On both days, security asked me to wait outside for 10-15 minutes because they were having an extended meeting. The SA held a pair of heels, the Deauville tote and a WOC for me over night and never once mentioned a price increase! I purchased (on March 1). Those items will be delivered soon. I wish I would have seen it coming. I am a little put off about it. Had I known, one night of holding items would literally cost me more the next day, I would have pulled the trigger the same day and used my 2 weeks to consider whether I'd keep them. Thanks for the rundown.
I do think it would’ve been a classier approach if they told you the price would be changing the next day. Of course they’re not obligated to tell you anything, but sometimes smart business means having a long term view with the client experience in mind. I don’t blame you for feeling put off.
Completely understandable to be feeling really salty about this.
I own a total of 3 Chanel bags, a classic flap, a woc & a square mini...years ago. Even then I had slight buyers remorse. With that said my Chanel collection is complete lol pricing has become unjustified since quality doesn't seem to match the new tag. Really intrigued at such drastic increases...aggressive even. Not for the "elite" as much as it is for the "idiotic" for continuing to buy. Same bag...so what gives Chanel? Great video 👌🏽
I think you perfectly articulated all my thoughts of Chanel over the past few years. Thank you for making this video!
Thank you for watching!
You are so well-spoken and SO right--I was especially struck when you were discussing how there was "something there" for those of us that have been into Chanel for so long...but that unfortunately now, "that 'something', is fading". EXACTLY right. It bums me out a bit to have to admit it, but indeed that's how I'm feeling as well, after being such a loyal lover of the house for so many years.
Thank you. It’s too bad, really. That X factor I was trying to describe… it’s fading for many of us.
I agree with u it is crazy! I bought my first Chanel small cf when it was $2500 LOL and it was beautiful 24k gold hw. Now I only own a rec mini when it was only $3800 but even then i thought it was insane. I will be buying pre owned Chanel if I ever want to add another - but most like not
I totally agree with you. All i can think of from Chanel is the word "Greedy" because they knew anyway, they will still have customers regardless of how much it has increased and they have tested it since pandemic and the demand is still there. Yes everything goes up (no denial about that) but this one is insane, and each increase is a whopping at least 10% and more and now seems like twice in a year. Phew.....really 1 am so happy to even have just 1 classic and one 19 small. No more classic for me. If i really want, i would get those seasonal one or minis, even that not that is cheap. Thanks for sharing.
I’m happy for folks that got into Chanel early! Now they can sell one bag and buy three from Givenchy, Chloé, or Burberry, or they treasure their collection that much more. To me this is NUTS with a quality decline.
I got my medium flap back in 2015 for $4900 plus tax from boutique. Its crazy how much it was gone up in price.
Thanks for the detailed and thorough video! I was going to buy my very first Chanel bag for my 50th next month--just a WOC because I can't stomach paying anymore than 3K for a bag even though I can afford it. I've decided against it though. Going to look at Loewe instead and vintage Chanel that seems to have higher quality lambskin and gold plated hardware. My 3K will go a lot further there than these crazy Chanel boutique prices! I'll be happy with my Chanel boots and accessories I already own--maybe I don't need a handbag after all :)
exactly! although you can afford to pay the chanel bag, you started to justify the price. if you hesitated that means it's not worth it. there are other brands that can bring same quality or if not better ones..
The vintage pre-loved Chanel pieces will go up along with these crazy price increases. The only Chanel piece I have is the WOC which I got last year. I have yet to use it, I enjoy my LV pieces more. I can use them carefree.
@@elcute7933 I'm finding that I'm talking myself out of even one Chanel handbag too and wondering how often I'd even wear it, is it even my style to have a quilted bag, etc. Definitely going to take a look at other brands for my b.day gift to myself! Interesting that you have even used yours yet in several months.
@@Lee73Lee Chanel WOC is so tiny that I just don't find it practical. I want easy access for my iphone so I like cross body bag with front/back pocket. I find Pochette Metis from LV is so much better for my lifestyle. You don't want to spend thousands of dollars & not being able to use it to the fullest. Empreinte PM is still cheaper than the tiny Chanel WOC.
@@elcute7933 Not always, look at the fall of Balenciaga for example. Any brand can fall, who knows what goes on in the background
Thank You, I appreciate the information! Yes everything is and has gone up!
I have been following and watching your videos. This is my first time commented on this video. I am done with Chanel. Although i started my collection in 2021. But I am glad that i had completed my collections, 4 handbags and 6 slgs which i think is good enough to use it for the next few years. I will definitely not sell my bags away as the price now is too insane.
Enjoy what you have. 😉
I totally agree with you! That’s why I went to the pre-loved market and got myself a classic flap WITH 24k plated gold hardware ❤ (WITHOUT breaking my bank).
I most frustrated about Chenel not using 24k plated gold, compromising the quality, but crazily increasing their prices. 14:07 14:09
A $1400 price increase is madness. That’s so much!
Thank you for the info and your thoughts. Well said!
The price increase was ridiculous. We all knew Chanel will have a price increase yearly or multiple times a year but this amount was insane... I was considering on purchasing a classic flap when it was $8,800. Even then it was a lot of money already. I won't be purchasing a classic flap in the boutiques anymore. It's just too much money. 10k is a lot for a bag. I might buy it preloved if I find a good deal closer to my budget but even then I'm okay without it now. I still have at least 1 Chanel bag in collection and I'm happy with, mini rectangular flap. The only bag I'm willing to purchase in store or preloved is my dream bag, Trendy CC. It also went from $6,100 to $6,900 currently. I'll probably just have 2 Chanel bags in my collection since the prices of Chanel bags is too expensive at this point.
I'm a guy who's not into handbags but I worked for luxury marketing, hence why I'm commenting. The luxury industry is built on a paradox: the more desirable the brand becomes, the more it sells but the more it sells, the less desirable it becomes.
I would like to see a shift that society perceives custom made products as the pinnacle of luxury, not mass products from high in demand luxury brands. From bags to jewellery, there are always artisans, sometimes local ones, that can handcraft you a one of a kind luxury product. Every woman is beautiful and deserves to have the beautiful things she desires, without being manipulated by luxury brand marketing.
Love this! Thank you for sharing your perspective Philipp.
Love every one of your videos ! Again thanks for your time to do it and very detailed🙏🙏❤️❤️❤️❤️❤️
Your dialogue is well received. I agree with everything you said. Thanks for this data. Your bag collection is beautiful.
I was really considering purchasing my 1st Chanel bag over the past few months, but I've changed my mind. I fall into the category that I don't mind the price increase versus what it was years ago since I wasn't in the market then. What I really care about and value the most is the quality that I'm receiving for my money. Too many people have been complaining about quality control with Chanel. I can't justify a purchase if the brand does not value the customer by providing a high quality product for it's luxury pricing. I might consider Hermes even though you have to build a history which is an issue since aesthetically it's not really me. But at least I'll know that it's a company that stands behind their superb quality. On another note, people knock LV due to over saturation, but I own pieces that have been dragged through the ringer and back and still look great. LV has raised prices as well and some quality issues have become apparent, but they are priced more reasonably. Customers just need to stop buying from Chanel if they are not satisfied with how things are going.
Feeling good about my recently purchased pre-loved classic double flap, with, yes, the gold plated hardware. I searched and searched until I found the right one ❤ Would never buy new at these ridiculous prices!
you make a good point to look to the pre-loved market since the quality was better and tbh the 90's bags were iconic
@@AMarie_Mooch with patience and persistence you can find a good one hopefully within budget. Good Double flap not easiest to find but it can be done :) 80’s and 90’s bags are superb IMO
Do you have tips to look for preloved bags? Spotting fakes or where the prices should be for the value?
@@helenhall299 TheRealReal is notorious for selling fake Chanel bags and there are charges that Chanel have filed against them. Buyers need to stay far far away
@@rubiirae I did hear some of this- not sure if it’s just rumours. Personally I wouldn’t buy a high ticket item without seeing it. I was more suggesting it for getting acquainted with the inventory- what’s available/ features/ price points.
Also, I would satisfy myself of authenticity as I said, with certificate or getting your own authentication and not just relying on what’s provided if you have doubts.
Everyone keeps complaining yet they are still buying! Chanel know what they're doing, their bags are selling even more with the price increases...
Maybe but we must understand that many of the influencers online are loaned these items to model and then sent back to Chanel
Exactly lol next week’s video * new chanel unboxing*
I always had a dream of owning a Chanel bag. Not anymore. I own a couple of LV. But now ai am looking into Loewe their prices are still not that high and the quality is there. Thank you for the info. 😊
Love your content!
Thank you!
Thanks for the information Cat! I can’t believe Chanel has the damn audacity to raise the price on that ugly gym bag looking 22. Seems like yesterday people were posting videos showing the bad quality on that “bag”.😤
There definitely a huge disconnect between quality and price. This is where Chanel is getting it wrong over and over again.
This will only make the dupe or counterfeit market even stronger. As it is, LV is the most counterfeited bag ever and because of that, it's unappealing for me.
You did an excellent job! Thank You again!💯😊🤭🥰
Thank you Kat love your video! 🙏🙏❤️❤️❤️❤️
I don’t own any Chanel however when I do decide to obtain one it will probably be a throw on and go novelty and not a full “bag”.
Nice video!
Me either I never will be able to afford one !!!
I feel like a fairly new Chanel customer since I started purchasing their bags in 2017 and I know so many people have been buying since way before that. Out of my 11 bags 9 of them fall into the categories of this recent price increase. I was shocked when I did the math that if I wanted to buy them all over again I would need to shell out $13,600 more than what I paid for them!!!!! My jumbo classic flap has literally doubled in price. I'm wondering if anyone else is feeling the way that I do that this price increase is going to make me want to use my bags less, not more. I noticed that with the last increase when the jumbo became $9500 I stopped using it except for maybe 1 or 2 occasions. And now that it's $11,000 I'm REALLY reluctant to take it out! I love all my bags and would never sell them because it would make me too sad to not have them anymore but then do they just become expensive decorations???
I’ve seen a number of comments here talking about how reluctant some are to carry these bags now. It makes me sad because these bags are meant to be used and enjoyed. It’s as if the new prices have created a burden. 😔
I afraid to use the classic flap handbag. I do not want to get robbed
That’s how I feel: I’m afraid to use my bags and I’m considering selling them 😢
I remember buying Classic Flap 32 years ago for only $300.
Woooow!
🤯
Pre-owned…the last time a classic flap had a 2 to 3 hundred dollar price tag on it was when Gabby debuted the bag in the 50’s. Classic flaps were about 1k in the 90’s 😊
Back then I thought they were old lady bags. So now I’m an old lady who can’t buy a Chanel bag. Lol.
@@marina56 😂🤣😂
Wow! It’s too much! I dont think I will be considering buying another one from Chanel. My collections are enough already.. thanks for sharing! With that price increase, I think I will be saving more
for Hermes bag instead.
I bought my first classic flap in October. I had buyers remorse immediately I couldn’t believe I spent 8800 on a bag. It’s crazy. I love the bag but it was too much. I guess I’ll I just be happy I got it before this price increase
Oh no, buyers remorse is such an icky feeling. If you use it often, your cost per wear may justify it down the road! 😉
Absolutely RIDICULOUS!! No freeking way! The construction is CNC machine sewn, bonded/painted leather, not even solid brass 24K gold-plated hardware anymore. Their quality is crap now, buy vintage mid-90's or earlier if you're a serious collector. The value is simply not there anymore.
I was looking forward to your thoughts on this! I've grown my collection in the past several years but just looking back on the succession of increases so close together makes me feel a type of way. While I will enjoy what I have, it'll be awhile before I buy anything in store. Thank you for the video.
This is why I will only buy Chanel used. I’m buying my first one for my 30th birthday and I’m still excited about it, but I’m getting it used!
Would you consider making a video to discuss the brands that you think are still worth paying for despite the recent price increase in their bags, i.e., while taking into consideration the inflation we are experiencing, if the current quality and workmanship of a said brand's bags would still justify that price hike? I understand that this is very much a personal opinion on the branding itself, but I am curious to know if you think there should be a price ceiling before it's no longer worth making the purchase (Celine had a recent price increase to their Triomphe range and it got me thinking if the €200 increase to the classique triomphe bag is alright albeit the increase is minimal 🤔. Perhaps there should be a point where the prices are no longer justifiable - looking at Chanel and LV?). Thank you!
I bought my reissue 5-6 years ago and when this video popped up on my feed I felt a little nauseous. $10200?? Honestly, I love the bag, it's my daily beater and has only become better with time.. as soft as Bottega Veneta's famed buttery leather but none of the wear and tear you get from soft-from-the-box leathers. But I can't help but feel sheepish now, wondering what people must think of me if they ever happen to recognize it..
I understand. I’m feeling some type of way about my bags as well.
Great video.Loved your point at the end.I think Chanel are ruining the allure of the brand with price hikes so often Way to expensive as they were without yet another price increase!!!
For me, Chanel used to be that lux but obtainable vibe. Chanel always symbolised young and old feminine energy for me. Young people look fashionable in their items and old people look classy in their items. For me, because it is obtainable lux where you can purchase when you reach a milestone, I am not afraid to wear my Chanels. Now I am afraid of walking out the door in chanel because of the value of the bag now.
The reason why I don't invest in Hermes because the bags are worth so much I am afraid of walking out the door with an Hermes. Now even if I have a Chanel, I am afraid to go out with it because the price has increased way too much. I still love my chanels though
Interesting points - thank you for sharing
This is such a good point!!
The chart that showed the cost of a bag over the years was really interesting. Adjusted for inflation, $220 in 1955 is equal to $2,446 in 2023. So clearly the price increases are not about inflation!
💯
The price increases are insane. I will keep what I have ; not buying anymore. I rather invest in my house 🏡 and my children’s education. ( not to say I was t doing that before) but I’ll invest in more than a bag that has notorious quality problems. Customer service is below standards! Why keep buying their bags?
This was a great video. I came to your channel for a straight up conversation and facts. 😊
This increase really shocked me; not that I didn’t expect one but that it was this large for almost all bags. I have a mini reissue, a small cf (caramel), and a vintage medium cf, and the discontinued GST. I was thinking of adding another mini but this is the end of the line for me :) I’ll just enjoy what I have as well. It’s seriously not worth a down payment to a car!
My feeling is exactly what you described in the video. I don’t feel the value of their bags now corresponds to their current prices. 😞💔
They have lost their minds. It’s getting embarrassing to carry them. Trying to be Hermes on pricing even with all the defects. So not worth the price anymore. Glad I have my small classic & WOC! I wouldn’t pay these prices for new. “I’m out!”
Their prices are ridiculous but I’m sure super rich people will still buy them 🤷🏼♀️.
I started dreaming of owning a Chanel bag when I was 17/18. A small classic flap was €1500 back then and I had the money to buy it, but I knew my mother would kick me out of the house for such a purchase so I thought “maybe when I finish college, live on my own and have a good salary…” Well then the economic crisis happened (no jobs in my field so taking up temporary minimum wage jobs) and I was diagnosed with chronic illness so unfortunately I never got to buy a bag. I’ve been trying to hunt down a classic flap card holder (that isn’t black) for about 2 years but it seems nearly impossible to get one without paying premium so I’m over it 😂.
Exactly right about "Quality Control"!💯😊
Joseph Duclos, Delvaux, Loewe, Mark Cross... are respectable and high quality brands. I feel bad for the Chanel clients who still loved the brand and don't recognize it for the has been it is 🤷🏾♀️
Unless you’re very wealthy, I suspect we’d all get much more joy spending £10k on other things! I do regret not buying a Chanel bag years ago though (and keep thinking this every time there’s a price increase 😅)
Better to look for the quality designers of today who will be tomorrow's icons ;)
정말 smart 하고 정확한 설명이에요
감사합니다! 항상 즐겨 보고 있어요!! ❤
감사합니다 🥰
I've noticed that the quality of Classic Flap bags, the quality is much above the rest of other Chanel bags. Non of my CFs has any issues, all perfect.
I have what I have, I no longer aspire to add anymore Chanel to my collection. The ridiculous price increases turned me off 2 years ago. I loved the brand but retirement is a better focus.
I can’t justify it. Would love a green or caramel brown. But I drew the line when I got my white one Feb 2022. Was thinking maybe a small boy but dang lol. I’ll chill with my old medium version.
Thank you for this detail videos , on the same note , Chanel it’s no longer reachable for me . Many of my friends are going vintage instead of new bags . There will always be a market , that’s just not me 😢
Vintage is definitely becoming a more popular route.
I was in a Chanel boutique not too long ago and the experience had completely turn me off. It doesn’t scream luxury but just snooty SA’s. The price increases are just plain greedy.
Over the weekend I went to a Dior boutique and loved every min. The SA took his time and shown me all the bags I wanted to see and try on. He was patience. Took his time to explain everything to me. I left with a wonderful bag. The whole experience was phenomenal. The Dior’s SA told me because Chanel is still a private company they can increase the prices however they want. However, Dior, falling under LVMH, is subjected to price regulations. He said something along the line of they can’t increase more than 10% a year.
I would not buy anything from Chanel. I will not support price gouging in this economy. No ma’am.
Something doesn’t sound right about what the Dior SA told you. Louis Vuitton also falls under LVMH and they’ve certainly had price increases well above 10% repeatedly over the past few years. 🤔 Nonetheless, interesting info. I’m glad you had a better shopping experience at Dior.
Totally agreed with u, way crazy to increase
totally agree that they have gone crazy! no quality increase is ridiculous. i'd pay for dior over chanel any day now especially with their better service too. it also makes me more hesitant to wear my chanel bags now because of how much they cost now....i only wear them for weddings/special occasions
You did great in this video. Thanks
Thank you!
I don't like the price increase, but I think they'll be totally fine. They hit record revenue/profits in '21 and '22 despite all of their past price increases, so I don't think they think it's outlandish to try it again. I think they would stop only if '23 revenue declines. Just my humble opinion :)
I agree with you! What is Chanel doing with all this price increase?!?!
I’d love to be a fly on the wall in their meetings! 😂
They could improve their quality if they stopped doing 6+ seasons a year.. focus on one or two collections per year and make them incredible, maybe that would justify these prices in some way.
💯
Outside of the price hike, the issue, to me, is quality. Spending such big money on a bag that falls short on quality doesn’t work for me. So it seems, there are two major concerns in regards to Chanel.
Absolutely, they go hand in hand. In my mind, the quality is the bigger issue.
“Some people think luxury is the opposite of poverty. It is not. It is the opposite of vulgarity.” Coco Chanel
I think about this quote a lot and I wonder what Coco herself would think of Chanel’s management if she were still alive.
Exactly. These outrageous price increases are vulgar and the lack of quality just makes the whole thing even tackier. It goes against everything that Coco Chanel stood for and really taints the brand IMO.
I want to invest in chanel bags. If I buy some and keep them brand new and resale them in a couple of years later,where can I sell it?
My best guess is they’re trying to just price so only the Uber wealthy will buy. But I’m not sure those prices will make up for the lack of demand from the 1/2 bag a year customer. Idk I find that even the Uber wealthy have pricing tolerances, especially since the quality isn’t quite improving.
Super wealthy only carry Hermès on their hands. If anyone have $20000 spare for a bag why go for Chanel? Hermès is far superior than Chanel in every aspects
exactly. plus the uber rich will go to Hermes. Chanel's classic flaps won't sell that well when competing with Hermes bags. Chanel seasonal bags might have a chance of beating Hermes bags though (because Chanel seasonal bags in my opinion are prettier than Hermes), which is maybe why chanel increased the prices for seasonal bags
@@Serena_9 that was my thought. Like they might wear Chanel rtw, but I just can’t see them dropping that money on a Chanel bag with its current quality issues.
@@hhueter Actually, this is a great point. I often see older ladies shopping at Chanel and while I don’t want to judge based on looks, they seem to be quite wealthy “old money.” And they always go straight upstairs to the RTW. They don’t even glance at the bags. In fact, one time I saw two ladies walking past the bags and one said “it’s the same bags they had 20 years ago, nothing new.” I was surprised and it caught my attention enough that I remember it til this day!
I’m of the same opinion: I began to disassociate with Chanel in 2022 after a bad quality experience with the 22 Bag 🙄 it used to be expensive, but still within reach for so,e of us. The higher and higher prices do not correlate with quality. Even though I am spending on other things, hypothetically, I would rather spend discretionary income at Hermes now.
You should keep your Chanel handbags! If they are in good condition, they are great investments.
I was saving for my first Chanel bag (not a classic flap) and even though I still could save some more and get one, I think I’ll pass. 1,400 dollars overnight is just plain greed. The richest of the rich are obviously keeping them afloat so they’re good without us regular folks 🤷🏻♀️
I low key wish people would stop buying chanel to put them in their place.
I think the problem is quality, not price. Price in fashion and art is magic 🦄
Great point!
No one likes these exorbitant increases in one shot, but ultimately they are a company whose focus is their profit margin. And they get to that any way they believe is best while maintaining their exclusivity. I love both Chanel and Hermes, and comparing the two is not really a comparison because their aesthetic is so different, and admittedly Hermes quality is impeccable. Although I personally have not had quality issues with any of my Chanel bags purchased in the last few years luckily. I do find it Interesting that I don’t ever hear anyone who buys Hermes complain about the fact that we have to buy a bag’s equivalent in dollars in other products that we may or may not really want, just to be offered a bag in a color and or size that we don’t want. And then people feel compelled to buy said bag for fear that another won’t be offered. And we go through all sorts of hoops to do it and so many get upset and depressed when their SA leaves or doesn’t offer a bag after their spend. It’s a bit crazy but people keep buying with the hope. It’s a bit nuts. And very expensive because most of those same people don’t want to spend 25 k on their birkin, but in the end they have. LV is decreasing their canvas pieces and pushing much more expensive leather goods for a much heftier price point. They are all just interested in keeping their exclusivity and luxury status and maximizing their profits. They don’t really owe explanations or true loyalty to customers. I heard someone say that their loyalty is to our credit card and I think that’s true. We all just keep buying those products so they figure they’ll keep doing it. If tomorrow at Hermes everyone stopped buying many thousands of dollars of products that they don’t want in order to get a bag, Hermes may loosen up on that requirement in order to offer a quota bag. Because the pre spend was not always a thing. 15 years ago you just put your name on a waiting list and you eventually got your birkin. They all do what the buyers tolerate. Zekoauthentication has a great article on her blog about the price increase and her thoughts which is very compelling. We can all just buy beautiful preloved pieces 8f we still want to buy.
Thanks for sharing your thoughts!!
You don't have to spend like that for hermes, you just have a personal shopper root out what you want.
@@blktauna I have a friend who is an SA and that’s generally the way it is there. But I’d love to hear your experience! Do you live in the US?
@@pappyone6062 I can speak to London and NYC SAs. Chanel are horrific in both. Maybe they just know I'm never buying from them, lol. Hermes in London, in several locations, are all lovely and helpful. Madison Ave in NYC, not so much. I've been a customer for a long time and I've had occasions where I was refused entrance to the store. I've been sitting on a bag repair and hoping that after the madness of plague times, they will not be asshats. Wall street is lovely and 14th st is lovely, but Madison ave... Not doing Hermes any favours. The crew in Georgetown MD are also v nice. With the bags, just look for a consigner/reseller/personal shopper who can source it for you. I don't care about 'in store luxury experience' so I'd only be concerned with getting the configuration I desire. And as I don't desire a C, K or BI, have it easy. I know how frustrating it can be with the games.
They don’t want the customers who buy one or two bags a year anymore. Trust me they don’t care. It’s evident in their prices increases 🤷🏾♀️
As someone who worked in quality assurance I can tell you Chanel doesn't care about the customers. They know there will be people willing to pay just so they can have Chanel and if a few customers return faulty bags who cares
Wild. I’m over here with my 99$ PLG bag like 😮
You may be the smartest one of all! 😉
If I had to guess their sales have dropped overall by 36% - they are Trying to make up for sales losses. It makes me feel uncomfortable even using and wearing my bags.
I don’t think it’s about inflation anymore because I doubt it impacts big luxury company like C. Prob company sees that even with lowering their quality people still purchase their products 🤷🏻♀️ and even with ridiculous price increase there are still many people buy their products. The only way to postpone price increase prob with lower sales numbers (just to postpone) and customer stop panic buying before price increase
It’s definitely not about inflation.
That’s hilarious. They must know that people will still buy their stuff even with those ridiculous prices. The people who are making those decisions must have ran the numbers and thought the demand was high enough
The uncomfortable truth is:
If you have to save for Chanel then it is not really affordable then for you
This is a status symbol , they have no incentive to improve the quality and the rich don’t care 🤷♂️
Chanel doesn’t force us to buy these bags. You can use $10k to buy 2-3 bags in another luxury house.
I just don’t see the point in getting upset
I agree with a few of your points except that I don’t believe that if someone has to save for something that it means they can’t afford it. To apply this logic, does that mean if you save to buy your first home, you can’t truly afford it?
@@hellocatwalkcity I agree. But saving for a down payment for a home is different and we all need a place to live rent or buying These are high end luxury items that we want not need. I always enjoy your videos. Xoxo
Key word: UNCOMFORTABLE 😂
@@daliaa5294 Point well received. I guess I just want to celebrate the discipline involved in working hard and saving for something you want. My husband saved to buy his first car in college. He saved for a year to pay for my engagement ring. I saved to pay for our wedding. If someone ever told us we couldn’t afford these things because we had to save up for them, I think I would’ve been perplexed. We could’ve gotten a smaller ring, skipped the big wedding, etc but I think sometimes in life, it’s nice to be able to earn your way and go after what you want through focus and discipline. I’m at a point in life where I don’t need to save for handbags, and it sounds like you may be in the same boat. But I still want to be sensitive to those who are diligently saving and may be feeling discouraged with the price increases. There was a time in my life when I couldn’t afford to even think about these luxuries, and now I’m so grateful for where I am. Part of what got me here is working hard, saving aggressively and investing early. I wasn’t born into wealth and if Chanel only wants to attract those who are born into ultra wealth, I think they’re missing an opportunity with aspiring customers, those who could become lifelong customers along the way. I appreciate the cordial dialogue. It’s always interesting to hear different POVs and I enjoyed reading yours. ❤
@@hellocatwalkcity 🙌🙌🙌🙌
This is just crazy! Inflation is no longer a good excuse.. I’m not a Chanel fan but I can see how other houses will just follow 😔
I really think...they're doing this to increase their valuation in soliciting for potential buyers of the chanel company itself.
That is a very interesting POV. Price out the customer who only cares about the 1-2 bags every few years while focusing on the uber wealthy clientele who buys high volumes across the product offering, and often. It positions you more attractively to be acquired.
@@acmcharlie146 Yes-- this!! 🙌🏽
Never will own a Chanel way to expensive I don’t make
11 thousand dollars in 11 yrs I love ❤️ this video ty so much for sharing I know people sell dupes and I don’t know 🤷♀️ if it’s illegal to get one❤️❤️❤️❤️❤️❤️❤️❤️❤️
They do it because they can, plain and simple. They aren’t about what’s fair or the “right” way. It doesn’t matter if the economy is good or bad, they know that their target customers, the ultra rich, will still buy.
Hello! I'm one of the people who have been trying to save up to get my 1st chanel. With their price increases since 2020, I could not longer afford a brand new one.
Chanel increase price per quarter since 2020?, so how much is the single yearly price increase per bag if we add up their quarterly price increase?
Imo, totally uncalled for pricing strategy given their sub par quality~😖
So, I have given up on a brand new CP, and managed to source a preloved vintage chanel flap. Though there are scuffings, the quality and thickness of the lambskin is amazing for its age! Even the gold plated chain look gold instead of the nowadays pale gold or champagne gold.
I hope to get a preloved reissue 255 too but I guess I will continue to keep a look out till I see a reasonable price; or just stick with 1 vintage chanel.
PS: saw a seller post at $20k for a reissue 226 of Yr 2021. Omg! Such premium resale price is totally insane too and I actually feel upset when I see such resale ethics. Yes to sell at a premium is fine but not this..
Vintage Chanel is beautiful. Enjoy yours!
If you need your bag repaired, Leather surgeons does a fabulous job for a very reasonable price! Also just watch and wait. The reissue goes for half or less than half the price on the preloved market. I love the reissue. I got my first 226 one from the boutique several years ago amd loved it so much I wanted another. I got a gorgeous deep red one during a fashionphile sale just after christmas last year for about $3700. It is missing the authenticity card but it is pristine! No sign of use at all. Got it authenticated with Zekoauthentication who is the foremost expert on Chanel and a sweetheart to work with. Go preloved for the reissue for sure! Good luck hunting!
Uhhmm 🤔. Do I prefer 10k invested somewhere else or in a bag I have to constantly baby 🤔? The answer is quite clear for me. I will keep on buying other luxury from other top brands but 10k for one bag only is a no for me.
Glad I purchased my Chanel bag and sunglasses 10 years ago
Did the price go up on Europe as well?
Yes
Well said. Thank you.
This makes me think … what would be the smartest way to curate our collections. For example, if I bought a new bag for x amount of money now, and thought about letting go of another, wouldn`t it actually be smartest to ”buy now and sell later”? If I was thinking of letting go of some of the bags I already have bought, wouldn`t it be better to sell it next year rather than this year, as the prices are only going up? And when on that track of thoughts, wouldn`t it be better to keep the bags anyway, as investments, and not sell next year but just hold on to them. We think of bags emotionally and functionally, whether they spark joy, or whether we use them - but if we actually thought they were investments, is it actually smart to curate our collections if we already have bought them? Then on the other hand, as the prices are so high, what will be the resale market? Those who are able to spend high prices, why would they buy second hand if they could buy the bag new.
This is the right time for them to increase but the wrong time for us. Money is moving fast in these times with millionaires becoming billionaires over night. But Chanel you are so correct are outpricing the customers before the economy can adjust or we can get there in finances to purchase. So even if for a moment it makes them unreachable. I think LV who is the top money maker is more on point & was more gentle in recent 2023 increases. Luv the educated vlog. At this time I will not be purchasing Chanel until it is not considered an unreasonable purchase. To me I can't justify the purchase. TY!
Been saving and saving and saving and saving.... unfortunately this is not going to happen. To be disappointed with price increases that just keep on not having me reach my goal. I guess it's a sign and I take that money and spoil myself elsewhere. Thank you for this update.
I refuse to pay more for Chanel than Hermes! It was a nice ride with you Chanel! Time to completely dedicated to my Hermes SA! 😂😅
Total and complete dedication 😂
I hope this ends up like the black tulip tale