Since the beginning of Madison Avenue Spy we have been tracking the prices of Chanel bags. In doing so, we have created a rich archive of pricing history. As Chanel shoppers brace for yet another price increase, we thought we would take a look back at the way things were.
As you can see by clicking on the chart below, the price of a Classic Chanel Jumbo bag will be $6000, as of May 1. That’s almost 100% more than it was in 2009. This season, most styles are increasing in price by about 12%. In the past, we’ve seen even steeper price jumps. Depending on the popularity of a particular style, bags have skyrocketed as much as 30% in a single year.
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Chanel generally evaluates prices in November and May. In some years, we’ve seen upward movement twice in a single year. For example, between 2010 and 2011 there were two price increases. During that year, the cost of many bags vaulted $1000.
In 2009, we proposed that Chanel was attempting to reach a similar price point of the coveted Hermes Birkin bag. Perhaps Chanel is simply staying in step with other luxury brands? After all, the price of a Celine Luggage tote is $3600. We would love to hear your thoughts. Please feel free to share in the comment section below.