Chanel Handbags Price Increase Over The Years

 

 

 

Chanel Handbags are considered as a sound investment in the fashion world. Over the years this coveted brand has consistently increased the prices of its handbags. The Chanel 2.55 Classic Flap Bag was first introduced in February of 1955 and retailed for $220. If one was to keep inflation in mind the $220 of 1955 should have been $1989 in 2017. However, the bag retails for over $5,300 today in the US and a little over Rs3,50,000 in India. What is also interesting to note is that the Chanel Medium Classic Flap Handbag increased in value by 70% between 2010 and 2016. In simple figures, the Chanel Medium Classic Flap Handbag that was for roughly Rs1,85,000 in 2010, retailed close to Rs3,20,000 by the end of 2015. By this math, it would be fair to say that a Chanel bag bought in 2010 practically paid for itself by the end of 2015. Chanel is known to increase the price of its handbags at least twice a year. Once around the last week of January or first week of February and then in the summer.

 

 

 

 

In the table below, we have noted the price rise of different Chanel Bags over the years.

2010 2011 2012 2013 2014 2015 2016
Chanel Medium Classic Flap Bag 185000 253000 286000 286000 318000 318000 320000
Chanel Reissue 2.55 Size 226 211000 279000 310000 310000 330000 330000 353000
Chanel Reissue 2.55 Size 227 234000 305000 344000 344000 360000 360000 385000
Chanel Boy Bag Medium 169000 240000 260000 260000 305000
Chanel Boy Bag Small 208000 253000 273000 273000 290000

 

Why does Chanel Increase the price of its handbags?

The fashion world ponders over this question time and time again. While many say its because of inflation, increase in labor cost, increase in the price of leather or other raw materials used in a Chanel handbag, or increase in taxes and fluctuations on the exchange rate; it’s actually because Chanel tries to maintain the exclusivity of handbags. If only the creme la de creme of the society could afford their items, the brand, then is able to maintain an aura of exclusivity thereby making their bags coveted. This is true for most luxury fashion brands around the world, but Chanel is the only brand that has managed to play on this card extremely well a decade after decade.

 

With Chanel now targeting the Millenia and the generation Z for their handbags, it will be interesting to see if the brand continues to increase the price of its 2.55 Flap Bag. The brand could also concentrate on its Boy Bag Collection, which has the potential to become the brand’s next prop and continue with the same strategy of regular price increase that it has been doing for it 2.55 Flap Bags

 

With a boom in websites, like My Luxury Bargain, that sells pre-owned Chanel Handbags; the Chanel 2.55 Flap Bag can easily be resold. Fashion enthusiasts today have the option to exit their investment in an effortless way. Typically, the average payment that one can expect to receive from consigning her Chanel 2.55 is upward of 60% of the current retail price of the handbag. The Chanel Boy Bag also when consigned can easily fetch an upward of 50%.

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