A Chanel purse by any other price would smell as sweet... or would it? It looks like some of the most beloved and coveted bags in history are about to experience a dramatic price increase — at least in some parts of the world. According to an article reported by Women's Wear Daily, Chanel bags are about to become more expensive in Europe, while the price of their classic purses are going to drop in Asia. The price tag spike is due to the luxury brand's plan to harmonize global prices, effective April 8.
The prices of three classic Chanel bags — the 11.12, the 2.55, and the Boy Bag — will increase by 20 percent in Europe (except for the U.K.), but also go down by the same percentage in Asian countries like China. This pricing structure allows Chanel, a brand with loyal customers from all over the world, to streamline its business approach without sacrificing its reputation as a luxury brand.
"We want to focus on customers who are seduced by the brand, who are seduced by our creativity, by our know-how and our finishing, and not just the price differential," Chanel’s president of fashion Bruno Pavlovsky said. The company plans to roll out price changes for its other goods at a later time.
Silver lining? For starters, Chanel lovers of all ages in other major markets such as the U.S., Canada, and Japan already have a significant price alignment in place, so they won't see such a major price increase. Another advantage to making their bags equally priced around the world, according to Pavlovsky, is that it will finally allow the brand to launch an e-commerce site, thereby making it possible for a Chanel bag to literally be just a click away.