By checking past prices, it can be found that Chanel often raises product prices in the spring and autumn seasons, with the most classic CF and 2.55 series being the hardest hit areas of price increases.
In the five years from 2019 to present, both CF handbags and 2.55 handbags (Classic Medium) have increased from 38100 yuan to 84000 yuan, with prices more than doubling. The growth rate of small CF handbags is the most astonishing, from 33700 yuan to 80800 yuan, with an increase of nearly 140%.
Although the pricing logic of luxury goods is not comparable to that of most people’s daily consumer goods, even within the luxury goods industry, Chanel’s price increase momentum is particularly rapid. Many netizens roast that Chanel would catch up with Hermes if it went up again.
Interestingly, consumers’ roast may just reflect Chanel’s intention beyond making profits.
Although Chanel denied its intention to benchmark its handbags against Herm è s, in the years following the outbreak of the pandemic, Chanel completely brought all classic handbags into the price range of Herm è s platinum bags with its aggressive price increase strategy.
