Wholesale Blog

It's Official! Chanel Raised Prices on January 15th, 2022

Don't say we didn't warn you! According to many well-placed sources, Chanel's next price hike did indeed occur on January 15th. This increase is the fourth time in the past 12 months, and the first time in 2022, and was said to be in line with the launch of the Spring Summer 22P collection released on January 18th. And while this is bad news for shoppers, it's good news for you and your store!

Mary Zubritsky

Don’t say we didn’t warn you! According to many well-placed sources, Chanel’s next price hike did indeed occur on January 15th. This increase is the fourth time in the past 12 months, and the first time in 2022, and was said to be in line with the launch of the Spring Summer 22P collection released on January 18th. And while this is bad news for shoppers, it’s good news for you and your store!

Chanel, who continues to raise prices to avoid becoming a mass market luxury brand, wants to make their products even more scarce and unattainable in the face of our booming resale market. As you know, Chanel recently replaced the serial numbers and accompanying authenticity cards with NFC-compatible chips that’ll trace the origin of each bag. These chips will make it easier to verify purchases and locate the person who initially purchased the bag. They hope this will lower the percentage of resellers, but we’re a few steps ahead of them.

Hermes, who’s already mastered the art of scarcity, is Chanel’s inspiration and competition. Due to the scarcity factor, Hermes has managed to become the ultimate status symbol among the rich and Chanel is not far behind. While Chanel has blamed price increases due to complications from the pandemic’s lockdown, increase in the cost of raw materials, labor shortages, and supply chain issues, we know the truth… it’s all about battling the resale market and Chanel’s desire to become even more exclusive and rarified.

CHANEL’S QUALITY

While they’re aiming for Hermes level prices and bag limitations, many claim the quality of Chanel bags have gone down in the past 20 years. And while that hasn’t stopped shoppers from stocking up on brand new Chanel bags, the prices have gotten to the point where consumers are left scratching their heads, wondering if it makes more sense to buy Hermes instead. If you can get a vintage Kelly bag on the resale market for the same price as a new Chanel bag, what should you do? Does it make more sense to refurbish the Kelly (which is known for its exquisite quality and craftsmanship) or get a new Chanel 19 which loses shape in the first few weeks of ownership? Or go with a beautifully made and less expensive bag like the Louis Vuitton Capucines? Decision, decisions!

CHANEL’S 1ST PRICE HIKE OF 2022

So, here’s what we know… the bags included on this particular price increase are the Chanel Coco Handle, Chanel Business Affinity, and Chanel Boy Bag with Handle. This time the Wallet-On-Chain, Mini Flaps, and Chanel 19 bags are in the clear. The bags impacted will see a price hike of between 8% -12% each. Thus far, this is all we know. We will update you again tomorrow once we find out more.

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WHAT DOES THIS MEAN FOR YOUR STORE?

As a designer reseller, you’re going to profit off of this raise since customers will turn their noses up at Chanel’s traditional retail model and buy from resellers like you….as long as the prices for your pre-loved Chanel stock are reasonable. While resale prices will follow suit in line with Chanel’s retail price hike, be careful of pricing too high for bags that a customer could buy brand new for a few hundred more - unless that Chanel bag is rare.

At the same time, with Chanel prices creeping up so closely to Hermès, make sure you price your Hermès stock competitively as well. Read more about what bags to invest for your Hermès selection here.

WHAT DOES THIS MEAN FOR YOUR BUSINESS?

Obviously, you should continue to invest in your Chanel stock and we’re here to help you source the best margins. Check out what we’ve got in stock! Shop | Designer Wholesale Online | LePrix

On our wholesale platform, every item comes with a description, condition, and letter grade for top brands. By leveraging deep data analytics and AI, our platform also shows you a suggested minimum resale price and estimated profit margin for top brands like Chanel, Hermès and LV. As mentioned before, authenticity is guaranteed so you and your customers can rest assured knowing that each purchase is authentic.

Want exclusive access to authentic, pre-owned Chanel and Hermès bags and accessories at wholesale prices? Join now!