The rise and fall of Chanel. As if.

What can we do about the price increase?

At the moment of my writing, Chanel is about to increase its prices for the fourth time in twelve months.

I have learned this little titbit due to the global outcry on the worlds fastest news platform (Instagram). Well, it’s nice to know that I am not the only one feeling the hit. And in all honestly, at this stage, it’s less of a ‘hit’ and more of an ‘a bus run me over.’ This, on top of the new two-a-year limit and the ‘lack of stock’ of classics, means one thing and one thing only. Chanel wants to join Hermes on its ~~pretentiousness~~ superiority pedestal.

Now, don’t get me wrong. I am not hating. I can acknowledge and admire a game played well. Kind of like you can admire a brilliant enemy. After all, it’s my capital that’s taking a hit. Not Chanel’s. However, so many price increases in such a short time frame are beyond unreasonable. The price of a large classic flap is now very close to the price of a Birkin, and a Birkin, if you can get your hands on one, feels like a much better deal. So, it’s unsurprising that more and more fashion fans turn to websites like Vestiaire and Luxury Promise to get their Chanel fix. And I am one of them.

I am not new to the game of vintage and pre-loved. The very bag in this post was purchased on verstiairecollective.com just last year. But the price increase of new Chanel bags also led to the price increase on the secondary market. Two years ago, you could buy a great looking Chanel from the 90s for about a grand. Not to mention the priceless cool factor of vintage. These days it’s more like three or four thousand, depending on the year and the condition. And that’s just bonkers.

So, what are we going to do? I have heard from many that Chanel is no longer worth it, and they would rather take their money elsewhere. Others hunt down exciting pieces from previous seasons, building up their collection in a belief that it will increase in value. I can understand both positions, and I probably fall somewhere in between. Right now I am unwilling to spend money on a large classic flap (I’d rather have a Birkin), but I do still love the mini Chanels, and I have seen some exciting pieces in SS22 that I will go and check out in the store.

I also spend an obscene amount of time scouring the internet searching for ‘the ones that got away’, like the Union Jack and the Hula Hoop bags, in hopes that one day I will be able to add them to my Wall of Fame (also known as a Wall Of Financial Shame).

This being said, for all the rage and crying, I believe that we will be used to the new Chanel pricing five years from now. Perhaps Chanel will join the ranks of Hermes in its exclusivity, and it will be our new norm. I believe that this is precisely what they strive for. I might not like it, but it will happen if the line outside the store is any indication. So, well played, Chanel. Well played.

P.S. I still might create a petition against any more price increases from Chanel on change.org. Who’s with me?

Here is a selection of my favourite (and reasonably priced) pre-loved Chanel bags. Click on the image to shop.

Here is a double sided take on a classic flap.