Dow -32% YTD, Chanel Raises Prices 20%

October 23, 2008 by Lila Delilah

The economy is is the worst it’s been in a generation with the Dow Jones Industrial average down about 32% for the year. However, Chanel’s execs have decided that November 1 is the right time to raise prices 20%. Maybe luxury lives in a bubble but …I just don’t think so.

Nitrolicious reports that prices of Chanel classic bags are due to increase 20%. A Classic Caviar Jumbo Flap Bag is currently $2850 but come election day the same bag will be $3420. That’s a lot of bank, $570 to be exact.

So if you have been dreaming of buying a purple or black 2.55 or a large or small Classic you might want to consider giving yourself an early holiday gift. However, if the economy keeps up the way it’s going Chanel might have to do rollbacks a la Walmart.

Alexandria at Saks Chanel 212 940-4347 (Remember to time your purchase with double/ triple points and an EGC).


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