Who made Chanel taste the sweetness of the price increase?
“For ‘truly’ wealthy people, there is no difference between spending 50000 yuan and 100000 yuan.” Chanel Sales admitted to reporters that after the price increase, some products have indeed reached a price that some customers cannot accept. However, the price increase does not have much impact on customers (high net value groups) who will buy Chanel ready to wear clothes.
In other words, the “real” customers of high-end luxury goods are not price sensitive and are a group of people who can consider buying Herm è s and Chanel as a way of life, rather than consumers who save money meticulously just to buy a handbag.
The fact also confirms that some of Chanel’s “price takeoff” packages, even if their prices rise again and again, are still in short supply and often in short supply in stores.
According to data from consulting firm Bain, 2% of CHANEL’s VIP customers (super VIPs) contribute over 40% of its sales, and this proportion is still increasing year by year. Therefore, leading luxury brands such as Herm è s and LV are increasing their focus on high net worth customers.
Last year, Chanel opened an exclusive salon on the 2nd floor of Taikoo Hui in Guangzhou, providing nearly 300 square meters of space with four exclusive fitting rooms and reception areas, providing VICs with a more spacious and comfortable shopping experience. Philippe Blondiaux has also stated that they will open independent private boutiques in major cities in Asia to serve high spending customer groups.
