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Why Chanel bags are expensive?
Have you ever wondered why are Chanel bags so expensive? There are many answers to this question, and all stem from the legacy of Gabrielle Coco Chanel herself. Gabrielle Chanel single-handedly revolutionized the fashion industry; ensuring her collections were comfortable and practical. This was something that had not been previously seen in the fashion industry and was groundbreaking at the time. Chanel bags have established an iconic status within the world of luxury fashion.
Chanel handbags have always been incredibly sought-after, and demand for these bags is always higher than supply. So what is so special about Chanel bags that makes them so expensive? As one of the top powerhouse fashion brands in the world, Chanel has always been known for its exceptional quality and exclusivity. Driven by popular demand and an increasing rise in the cost of materials and labor; Chanel bags continue to rise in price. They will forever remain a status symbol, and will never go out of style.
Chanel’s High Quality
When it comes to luxury handbags, quality is key, and Chanel is no exception to this rule. Chanel bags are made by some of the best artisans within the luxury goods industry, based in Europe. The highest quality materials are used in the construction of every Chanel bag, including the finest lambskin and grained calfskin, better known as caviar leather. In addition to high-quality leathers, it is said that there are 180 steps in total for the construction of the Chanel Classic Flap Bag, including numerous and extensive quality control checks during production.
Chanel’s Investment Value
Chanel has increased the prices of their handbags year on year (sometimes twice annually), and is continuing to do so. During recent times, the cost of raw materials, production, and labour has meant that supply simply can’t keep up with demand.
The Chanel Classic Flap is the most sought-after piece within their core collection and receives consistent annual price increases. Back in 1990, the price for a Medium Classic Flap bag was $1,150, this same bag can now be purchased for $8,800 in boutiques today.
These price increases can be beneficial when it comes to investing your money in the luxury market. The Classic Flap bag retains its value incredibly well. Therefore over time, you are guaranteed to get your money back (if not more), if you did decide to sell your bag in the future. This is especially true for sought-after classic pieces, and sold-out seasonal bags. The value of the bags in the pre-loved market also has risen to reflect Chanel’s price increases and demand. The Chanel Classic Flap is truly one of the best investment bags available in the luxury market today.
Find out which bags have been most affected by the most recent Chanel price increase in 2022.
Chanel Stands by Their Quality With Warranties
Chanel introduced an updated warranty scheme, named ‘Chanel et Moi’ (which translates to Chanel and Me) in 2021. This warranty covers all handbag purchases including the Wallet on Chain and provides customers with 5 years warranty; elevating the luxury Chanel experience.
Customers can now invest in Chanel and buy with more confidence, knowing their purchases will be looked after in the future. However, it is often discussed that this new and enriched aftercare policy is to reflect the ever-so-regular price increases.
Why are Chanel bags so popular?
Few handbags within the luxury fashion world have become as sought after as Chanel. The Chanel Classic Flap has become one of the most popular bags ever made, due to its iconic status within the world of luxury bags, as well as its exclusivity.
Demand for the Classic Flap bag in particular has increased hugely over the last few years. This has partly been driven by social media influencers, as well as celebrities wearing Chanel pieces; the Classic Flap is a true status symbol. If you’re after a new Chanel bag, read our blog on When Does Chanel Restock to land your dream Chanel bag faster!
Chanel reported revenue of $15.6 billion for the year 2021, which was a staggering increase of 49.6% on 2020. As demand continues to increase, the prices rise; resulting in huge brand profits across the board. The demand for these bags will continue, as long as exclusivity remains a factor. Chanel has recently introduced limits on the number of bags and products customers may purchase; this has been implemented to reduce bulk buying and curb re-selling on the secondary market.
Are Chanel Bags More Expensive Than Louis Vuitton?
Chanel and Louis Vuitton are globally recognized for being two of the top fashion powerhouses. However, have you ever wondered, which is more expensive?
In general, Chanel bags tend to be on average much more expensive than Louis Vuitton. This is due to Chanel’s exclusivity, as a direct result of its higher pricing scale. However, the Louis Vuitton Capucines collection is of a very similar price point to Chanel’s Trendy CC bags. Despite this similarity, Louis Vuitton offers a wider range of bags at different price points, making it generally a much more attainable brand.
Where to buy Chanel Bags
All Chanel bags can be directly purchased through your local Chanel boutique, however, waitlists should be expected for their most popular styles. As the prices continue to rise at Chanel, the pre-loved market has also increased to reflect this. You still could make a saving when shopping pre-loved for your Chanel bags. We strongly recommend shopping for pre-loved Chanel via reputable resellers, as well as on Vestiaire Collective and eBay. When purchasing any pre-loved designer bag, please ensure to get it authenticated for protection and peace of mind. See our list of recommended authentication services here.