The most common topic among luxury shoppers is that Chanel trying their level best to compete with Hermes. For the past 10 years, their items have significantly increased in pricing. It escalated immensely since 2019, accurately, it increased by 60% for certain handbags.
Chanel’s price increase
A luxury YouTuber states that they had a price increase in March 2023, and they will have another one in November. They heavily increased their pricing during the pandemic, which is shocking to many. However, it can be assumed due to the lack of resources in making products back then.
It appears that Chanel’s second hand items may drop in value as second hand variants are not as near in price as a brand new version of it. The YouTuber states that a second hand bags can be as low as 50% cheaper than buying them in store.
Another YouTuber adds that the brand is thinking about the long term when it comes to their price increases. Furthermore, to some, the brand is targeting the ultra wealthy where quality isn’t really an issue to them as they would probably not use the items as much as a regular person would.
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