It hasn’t even been a month since Bottega’s last price increase but they are at it again. First, on October 3, we reported a price increase of $100 on the popular leather pouch, which brought the total price to $2500. Today, we found out about another price hike that brings the cost of the it-bag to $2700. That’s an increase of $300– over 10%– in less than a month.
It appears as if the metallic style pouches are the best deal at the legacy price of “only” $2400. The cost of the woven “Intreccio” got a bump earlier this month but seems to be holding steady at $3100. The small Pouch 20 was $1100 only last month, was upped to $1200 at the start of October, but now has a new price of $1390. The woven Pouch 20 is now $1580.
Retreating to the Mansur Gavriel version might seem like an even better alternative now. Think again. The clones also went up in price from $395 to $595. Happy holidays!
As the economy seems to be slowing, brands are not shy about taking advantage of hot products. Earlier this week, Louis Vuitton raised prices 7% on many popular styles. Dior added $400 to $500 on popular Saddle Bags and Lady Dior styles, according to Spotted Fashion. On November 1, Chanel is slated to take a major price hike on many of it’s most popular style bags.
The fashion cycle has become as fast-moving as Billboard’s Hot 100. Fashion brands are becoming increasingly savvy in taking advantage of any trend while it’s hot. There was a time when Dior book totes were under $2000. That should be a lesson to us all.