Chanel is raising prices by 6 percent on several popular handbags on Nov. 1, including Timeless Classic, 2.55 and Boy Chanel. This third price raise this year will be applied globally, and the company states it’s because of rising production costs and demand. Looking back , Chanel has been leading price changes since 2015, when it first put into effect a price “harmonization” strategy that aimed to narrow the gap between Asian and overseas prices to discourage individual sales agents from China who profit from those price differences.
This also comes as good news to existing Chanel customers and bag collectors, as certain Chanel classic styles are seen to be great investment pieces. Just to put into context, when the 2.55 Chanel bag first hit shelves in 1955, it went for just USD$220. Now, in 2018, it costs USD$5,300. Overall, it increased in value by 71.92 percent between 2010 and 2015, which outperforms even housing prices and the S&P 500. We discussed more of this in our article on 10 of the best brands to invest in.
Read more about the Chanel price hike here.
Source: Jing Daily