Chanel shoppers should get ready to brace themselves for a new set of price hikes. Starting November 1 Chanel will raise prices considerably across the board. We have been told that a Large Classic Flap will go from $5600 to $6200. No need for a calculator, that’s a $600 price hike!
You can see a full updated price list clearly by clicking on the spreadsheet image below. Please note, these prices have not been verified and we can’t promise that they are completely accurate but they will give you an idea of what to expect. (We will be sure to update the post if adjustments are needed.)
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We think it’s rather quite convenient that Chanel price increases happen almost annually right before the holiday shopping season. We strongly suggest that you execute your purchase now if you have been considering a new bag. Usually, Chanel withholds inventory this time of year. but it appears as if stores are well stocked with many popular styles.
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. Since 2009, the price of most style bags have increased by about 110%. You can refer to the chart above and see how prices have changed over the years. Please take the time to click on the picture and review all the information. (It took hours to compile.)
The increasing trend of characterizing a Chanel bag a “good investment” is not at all accurate. The safest and most conservative investment is a Series EE treasury bond, which will essentially double your money in 20-years. So, your T-bill would be worth still only half as much as a new Chanel bag. On the flip side, nobody will sit and crush your T-Bill at a crowded bar in Brooklyn.
If we look at the S&P 500, it has delivered a return of 180% in the past decade. That means if you invested your money in the S&P 500 in 2008, you could buy yourself a new Chanel bag and a wallet with the same money. We can go even further and compare a Chanel “bag” investment to Apple stock. In 10 years an investment in AAPL has gone up nearly 1000%, which means that if you took the $3200 you paid for a Jumbo classic bag in 2009 and purchased Apple it would be worth about $23,000. Now, that’s a good investment.
We would never question the validity of a new Chanel bag but let’s all understand that it’s a luxury, not an investment. If a new Chanel bag is on your wishlist we suggest you give yourself a holiday gift now and enjoy using it for the foreseeable future. As an alternative, we pulled a variety of new and preowned Chanel bags that are all priced under $2800– the same price as a Classic Jumbo in 2009. You can buy the bag and make a meaningful financial investment.
Below is a list of trusted Chanel sales associates at various stores:
Saks Fifth Avenue: Marjorie 646-552-7292
Saks (Columbus) Mojie: 614-581-3142
Bloomingdales: Dean 646-537-5995
Bergdorf Goodman: CJ 347-229-6159
Barneys: Joseph 212-833-2092
Hirschleifers: Tova 516-627-3566
Jeffery New York: Kenya 212-206-1272
