In the world of luxury fashion, certain brands would always like to portray themselves as the better brand. Hermes is the current king of fashion, and we look at Chanel’s aspirations to reach that level. How do they do that? By marking up their prices to match Hermes of course.
Many of Chanel’s customers are complaining about this. A tik toker noted that in 2018, a Chanel Classic Flap was CAD$6,000 (RM20,000) and now its CAD$12,000 (RM40,000). This is happening only within a 4 year gap, and that bag has a higher ROI than gold at this point.
Their current customers are also questioning Chanel on this very bold move as their quality has not been the best recently. Some are opting to buy second-hand Chanel bags (which Chanel is actively campaigning against) while others turn to other luxury brands that are more sensible.
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