Runway News

Chanel to Increase Prices

One of our pet peeves about brands like Coach is, we may love their designs, but the second we start spotting middle school kids carrying Coach bags, we're just not interested in them anymore.

Chanel absolutely does not want that to happen – which is why they're raising their prices.

We get it, really, we do. And it's not that we disagree with it.  It's just that, isn't Chanel already expensive enough?

And it's not like the company is just raising their prices a little bit. According to Madison Avenue Spy, the prices of Chanel bags (including reissues) are going up 20%. That's a lot!

A sales associate stated, "We don't want Chanel to become like Louis Vuitton. They are taking more of an Hermés approach, where it can take three years to get the bag you like. We want Chanel to stay a luxe item, and not be Main Street."

Yes, it makes perfect sense. But isn't raising prices 20% a bit too much? Chanel is already considered more high-end than Louis Vuitton at this point.

Lila Delilah, from Madison Avenue Spy, contacted New York department stores to see if they could confirm the news. While many of them said they heard about reports but weren't sure when they will take effect, Bergdorf Goodman said they believe prices will be going up at the end of the month.

What do you think of Chanel's price increases? Are they raising their prices too much, or do you think it's a smart move for the company?

Article courtesy of www.limelife.com.

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