August 6, 2010

Chanel 2.55 Price Hike, Yikes


A month ago, the Chanel 2.55 bags in Europe were selling at a 20% price hike. It was rumored that the same increase would occur here in North America and Asia and it did starting this month. Currently in Canada, a small 2.55 cost $3300 CDN and medium cost $3500, and it will be increased by another $500-$600.

Why is the bag so expensive in the first place? Not only the Chanel bag is made with the belly of a lamb, but the prep work involving in making a bag has over 180 stages. The bag is then put together by hand which involve over 10 hours of work. After the bag is made, it spends about 72 hours at 60 degrees Celsius and in 95% humidity to ensure that it can withstand summers on every continent. The leather is also checked for its resistance to UV rays, tearing and water.





This isn’t a big deal for those living in upper class but it is for the rest of us. Most people already know or think that when buying designer brands, you’re mainly paying for the logo instead of the craftsmanship. This argument can go both ways, but it still doesn’t justify the Chanel purse hike considering the cost of living inflation per year on average is only 3%.

I like Chanel purses but I wouldn’t spend my own money on it because I see too many fakes on regular basis. For some reason, fake Chanels stand out more than any other designer brands. Like a random Chanel purse you see on the street, it’s very difficult to determine whether it’s just a random crackhead worth a few bucks or Amy Winehouse. But regardless, I still love the CCs.

So if you are planning to ever buy a Chanel 2.55 bag it's best to buy it early as possible as the price will just keep going up!

Do you own a Chanel bag? Would you ever spend that much on a bag? What do you think about this 20% price increase? Do spill!

77 comments:

  1. Oh shit!!!opps I'm sorry....I've been wanting this bag...and for the price of it right now...and if it keeps on increasing..owning it become slimmer...ughhh....

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  2. I do not own one....not sure if I really want to pay for one. I'd take one for free if someone offered one to me! lol.

    I wouldn't shell out that much money....at least not at this moment.

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  3. You know I adore Chanel. The prices are crazy, I totally agree. I have this bag and love it!

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  4. wow!! so expensive! I'd rather get a really good quality and pretty bag that'd last me long for no higher than £200. I don't think I'd buy something for the logo, it'd make you look better or seem richer in front of your friends. So nahh, not for me. lOl :P

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  5. well, i didn't think about the craftmanship. actually, ive always been against bags that cost more than 50 dollars xD i'm just super cheap like that.

    besides.. it's true, i see so much fake ones too that they tend to stand out more than the real ones.

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  6. ugh my dreams of ever owning a chanel are shattered. i love it so much but i just cannot justify that much money for a bag. there are better places to spend a few Gs. sigh. so sad.

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  7. I would probably never buy a purse that expensive. My most expensive bag is a Coach bag I got at the Coach outlet for $75. I'd probably spend a little more than that for a designer bag. Maybe $200...but that's a big maybe and I'd have to really be in love with it.

    Cute Chanel bag though. :)

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  8. The belly of a lamb??!? NOOOOOOOO!!!

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  9. I was just watching a Living Spaces commercial (a furniture store) and they were having a living room set with sofas, love seat, 2 end tables and center table with 42 inch flat screen tv package for only 995. I was like, wtf! The sofas looked like crap but still that's a great deal lol.

    I guess my point is everyone else are lowering their prices while channel is having a price hike? why? lol

    but you know what, i do want to own a channel bag someday, maybe a small and cute one but for now there's no way i will shed that much for a bag :)

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  10. I don't have any, but I don't think I need any right now although it's really pretty and worth the money :D

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  11. As much as I would love to wear lamb tummy on my shoulders, I'm afraid I'll have to choose my mortgage instead. Only because I won't be able to fit my bed into the Chanel.

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  12. oh my! i really like this bad though! i'm gonna buy me one someday. hahaha.

    http://www.readmylifeascarrie.blogspot.com/

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  13. We shared a telepathic moment :)) Wow, I would never buy such an expensive bag no matter what. About the description "The leather is also checked for its resistance to UV rays, tearing and water." I laughed so hard when I read water, I was thinking how people would cry a river when they realize they paid 4000$ for a bag :))

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  14. I wish Gucci went through such an intensive QC process. Zipper on my purse broke.. I use the purse like twice a year. Yeaaaaa.....

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  15. wow.. I thought about getting it over the weekend, but then I thought..heck with that much money - I can actually go somewhere really nice. So.. no! I don't think I would buy one for that price. Maybe if a nice preloved one came by then..maybe. Heck if you add a couple thousands more, you can actually own a preloved Birkin. I think I'd rather do that.

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  16. wow I didn;t know all that about the process, very interesting. and UGH on the price hike...I've been searching for on on eBay for years...but like you said...fakes are everywhere :/ and they are still too much on ebay
    http://aclosetfashionista.blogspot.com/

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  17. I love designer bags, and they are all over prized, and in some way I think thats ok. Designer bags somehow isn't for everybody, anyway I think Chanel take the over prizing to the extreme.

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  18. I agree with you, I've seen a lot of fake ones and yes, it's actually better to buy now if you can find a $3,600 price tag but to me, I like the bag but it's not to die for!

    Happy Friday!:D

    http://allthingsmarie.blogspot.com/
    Beauty. Fashion. Interior Design.
    & Life According to Marie.

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  19. GREAT PICS! Love seeing all the chanel logos lyin around! It's amazing how they test the bags too..so interesting! They are sooo gorgeous!
    Have a fab weekend!
    xoThe Beckerman Girls

    http://BeckermanBitePlate.com

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  20. I love, LOVE anything Chanel and want one of these more than anything. I'll never have enough money, though, haha.
    xo Josie
    http://winksmilestyle.blogspot.com

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  21. Oh Chanel...how I love it so much! I have 2 Chanel purses and yes they are real..LOL

    I just spend $2800 on my flap purse but it's so worth it to me! :) I love anything Chanel! And darn those fakes- they should be banned!

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  22. HOLY GEEZZZZZ!!!!!!! My dream is to one day own a Chanel bag. But just to drop a couple of thousands on a bag just seems crazy to me. I had to drop a couple of thousands just to rent an apt and I was having a heart attack. Hopefully one day money won't be a big deal and price tags won't matter....

    http://fashionistanygirl.blogspot.com/

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  23. o_o I would definitely spend $20 on a bag and put the other thousands INSIDE the bag hahaha. Wow .. Chanel really does want it to be exclusive :(

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  24. eeegaaaahhdd! This is unusual. but from economic's pov, this news by itself can increase demand right this minute. Either way, the price will go up to compensate for the increased demand.

    i'm not sure if Chanel unconsciously (or not) wants to make buzz about this "price hike" because from the looks of it, consumers will inevitably cause the price hike in the first place. supply and demand!! :D

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  25. anyway, i think it's time for aspirational consumers to set their eyes on something more attainable. in my opinion. :)

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  26. Yeah right...I'm waiting for a sugar daddy. Opps, did I say that aloud?! LOL. jk jk
    For that price the bag better have a huge diamond ring in it when I open it LOL. Nope I don't have a Chanel bag - thought about a fake one a few times...my most expensive handbag was only $600 something.
    I think the 20% hike is nothing because the crowd Chanel caters too can easily afford a few hundred dollars more. Seriously, it's like the difference between me buying a milkshake to add to my McDonalds meal or not....no? I'm just being silly, ignore me!

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  27. I am so shocked by the 20% increase but they will still sell at that price. I dont have the 255 I have another style and five years ago it was £750 now the same style retails for £1200 maybe more now xoxo

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  28. Thank you for your sweet comment and I'd really love you to join my CHANEL- giveaway..:) Stop by and check it out...


    Kisses


    www.miaslittlecorner.blogspot.com

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  29. I heard about this price hike and I'm not happy!! Not that I am in a position to buy a Chanel bag at the moment, but if they hike the prices up now, what will they be like in a few years time??

    Anyways, have a great weekend!SarahD:)

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  30. I would never ever spend that much money on a bag. I would much prefer to go on a week long vacation and make a lifetime of memories instead.

    But that's just me ... ")

    Have a great weekend!

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  31. I love Chanel but in today's economy, I find it kind of sad they would hike the price up so drastically. Sigh. Well, even with the price hike, there's no way in hell I could afford the bag anyway. Ha!

    And yes, everyone and their mom has a "Chanel" bag these days. I'm worried if I ever put down the money for a real Chanel bag, everyone on the street would just assume it was fake anyway and defeat my whole purpose of having a chic designer bag. Sigh.

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  32. Made from the belly of a lamb??? I will never by a Chanel bag for this reason.

    On a happier note, it's the weekend so have a great one!

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  33. Scary, I know that Dior did the same thing in the UK a few weeks ago, and prices went up by about 20% or so too. I'd love my own yes, but right now there are so many other things that I could spend the money on, like a holiday!

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  34. I would have to be very deep in the dog house to give one as a gift. I wonder how much of a discount I could get if I supplied my own lamb's belly???

    Is that a new picture in the header? Or am I just slow to notice things??? Either way, very pretty.

    Old joke:
    In 1895 an elderly shopper complained to the owner of a general store about the price of apples going up to 2 cents per pound. The owner explained, "I'm sorry ma'am, but the apple pickers make a nickel an hour now."

    In 2010 an elderly shopper complained to the manager of a grocery store about the price of apples going up to $3.50 per pound. The manager explained, "I'm sorry ma'am, but the apple pickers make a nickel an hour now."

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  35. Regardless of the price difference, i would still love me a chanel purse. :) Knowing that the purse worth is actually going up is good news as to it going on sale or is being sold at a cheaper price.

    I know there are tons of replica's out there, but the feeling of carrying a real chanel bag is different. Plus i am against replica's.

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  36. i don't think i would spend that much on anything! Replicas are normally cuter and so much more cheaper! I normally buy fake hello kitty XD

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  37. crazyy! 20% is a lot especially knowing it's not the fake one!
    I usually buy second hand or fake one because I can get bored easily so I'd rather save the rest to buy another style of bag lol!

    I have one fake chanel from my mom :p

    love.
    Etinology by Catherine

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  38. That's crazy. I am sure some people have no problems spending the $$ for a real Chanel purse. You're so right! It's impossible to determine if it's really or not when seeing the purse on a person out on the street. Only themselves would know
    ------------------------------------------------------
    Want to win a pairs of designer denim? Go to PetiteLittleGirl.com for more details

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  39. I love Chanel! I have a Chanel Cambon purse! My mom got it for me last year, and it's absolute love! :)

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  40. Hahaha, it's funny that you did this post entry. My gf and I were just talkin' about this a couple days ago. THIS IS SOOOO RIDICULOUS! You would think that designers would correlate their pieces alongside how the economy is doing. Like, right now...we're obviously in a recession. Most places are holding SALES or having deals to get rid of their merchandise. Why, oh why, would Chanel even entertain such an idea of raising their prices on an annual basis?

    I wouldn't put down that much money for a purse, even though I could afford it. I just wouldn't be able to sleep at night, knowing that there are ppl out there who are REALLY STRUGGLING just to put food on the table for themselves and their children. I don't know how anyone could justify spending that amount on ONE item that could easily be imitated (just go to CHINATOWN, you'll see). But I guess that's just ME. To each, their own, right? Lol

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  41. Dude, $4K for a freaking leather purse made from a lamb's belly? (WTF? Really? I never knew that!) No thank you! Sadly, my "new" car isn't worth $4K, so why the hell would I spend close to $4K on a single purse when I could invest that in a new Prius or something else more worthwhile?

    I don't care how classic or iconic Chanel purses are - screw Chanel for hiking up their prices when the economy's been shit poor for the past 2-3 years & people are barely making enough wages as is. What's sad about this is that plenty of people who can't really afford to pay the $3600 now for a Chanel will probably go out and buy it just because of this stupid price hike. Fucking Chanel.. I love their sunglasses & eyeglass frames, but the prices of their other stuff are ridiculously overpriced. GRRRRRRRR!

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  42. OMG are you serious?! Now I know I'll never own one because I would feel embarassed for having spent so much money on a single bag!! Even the old price is ridiculous. For that amount of money I could pay rent for 4 months, or go to 3 different all inclusive 1 week vacation resorts, or go to Asia for like a month. When you put it like that, spending that amount of money on a bag is kinda retarded.

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  43. oh my, it's gonna be even more expensive now? awww, i really want one, though. and i didn't know it's made from lamb belly. :/

    p.s. i am a new follower. hope you can come visit my blog too. thanks! :D

    <3, Mimi
    http://whatmimiwrites.blogspot.com/

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  44. oh my good. I didn't know that... at least it is worth buying then...

    vicky from Hot Gossip
    follow me

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  45. wow! great article.
    Tht was really eye opening, its worth it but I feel like I still cant bring myself o pay as much as my summer vacation on a bag.
    4100 isnt ridiculous but there are better things to spend it on, like visiting my grandfather and friends in Europe,.

    http://squishingmushrooms.blogspot.com/

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  46. I LOVE CHANEL!!!! <3 love love love this post!!

    love,vdcouture

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  47. I don't own a Chanel bag, though I was seriously considering it for a while only to finally come to the conclusion that it just isn't 'me'. I stick to other brands instead. Regardless of the great workmanship, most designer brands hike up their prices to remain 'exclusive'. It's a marketing strategy unfortunately. There are enough women out there who get off on the fact they're paying a crapload of money for a piece of leather.

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  48. welp, there goes my chanel 2.55 i am all about putting down the money for the quality, but a 20% hike is insane! thanks for the info!

    xx anna jane

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  49. oh I completely agree with you about the fake deals out in the market. I don't own a chanel bag, but its always so classic and an investment indeed, but like you.. not going to get it with my own money lol

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  50. Price went up on Aug 1, I think. At least that is what my sales tell me. Anyway, these Chanel bags are so expensive now. I have several so I will use them carefully then. : )

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  51. I really don't think I would buy it! I'm too in love with my simple D&O chain tote from Urban Outfitters that was like 2% the price (don't check my math). Plus I'm too ADD with purses. Maybe they will pay their handcrafters more now?

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  52. thanks!!!!! I love collecting the pins! It's always a new adventure. Oh! apparently I am already a follower!? hahaha
    love, polly

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  53. Sorry but I have better things to spend my money on than a purse. Just not worth it to me.

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  54. Holy cow. I mean Chanel is one of my icons and everything, but I don't think I could ever spend that money on a purse, no matter how much goes into it!

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  55. aaahhh insane.. i love chanel too.. but that price hike is just ridic!

    Animated Confessions

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  56. One of my dream bags - guess I'll be waiting awhile longer for it!

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  57. I have a similar bag from Chanel - but hardly ever carry it. Am not overly keen on 'Designer' bags as I prefer Antique and Vintage bags - more personlaity and they are far more individual. Am not keen on looking like 10, 000 other girls in Paris or Europe. The bags above are pricey, I know, but I would rather purchase a piece of Art;-)

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  58. Yeppp! I have few vintage Chanels (one of my fave is a quilted backpack) and two newer bags, (2.55 re issue and a Mademoiselle Camera). :)

    Please don't forget to enter for my actually giveaway.

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  59. My salesperson from Chanel called me the other day to tell me that their was a price increase. I seriously don't get it.. we're in a recession!

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  60. im already feeling this inflation thing going !!
    and i know about the fakes.. i REALLY REALLY hate it when I have something that is real but the fakes are everywhere (and there are sooo many good quality fakes that they dont look any different to the real ones)

    there are sooo many grade A birkin/kelly fakes here ! chanel and hermes are taking the storm in indonesia !

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  61. It's a great classic bag. For those who can afford it at the earlier price, the new price may not be a deterrent

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  62. Oh my! I have considered purchasing a Chanel bag before, in the future when I finally have a steady career. But it's actually not the price that deters me, it's the fact that it's made from lamb :'( I petted a lamb in New Zealand a few summers ago.. and when it licked my hand and looked into my eyes, I vowed to do my best to avoid purchasing anything that would harm them.

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  63. That does seem awfully expensive for a bag.

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  64. Well Damn!! There goes my attempts of owning one "someday". The price hike is enough to make me reconsider my plans all together. I'm probably better off spending thr $4K on a luxury Mediterranean cruise or a new camera (the real fancy one! ;o)

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  65. I own a Chanel bag and I think that if you can afford it well...it's a great investment because that bag will never be out of style! It's such a statement piece!

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  66. But I think that this price increase is insane!

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  67. Hey dear,

    The very first time I set my eyes on a black quilted leather gold hardware bag was when I was in high school many years back. I didn't know it was a designer bag, I didn't know it was a Chanel, I just thought "What a nice black bag with gold chains!"

    I've yet to own one and I heard that it's started selling for mid $4000+ in my country since July. I soon found out that at that point of time I liked it, it cost $2k +. Imagine the price hike over the years!

    It's really crazy but I would really love to own at least a classic flap and I intend to purchase one when I go to Europe hopefully next year.

    Is it ok if I quote some of your info in this post should I do a blog post of it? Thank you in advance.

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  68. AHHHH this such a bad news!!! :( i've been wanting one, but i've been try to save for it, and i always get sidetracked lol and end up spending the money on other stuff..so not cool
    and yes i will take the measurements for you of the dress tonight.
    xx

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  69. I have the Chanel 2.55 in caviar leather (which is a very durable treated calfskin, much better than lambskin for everyday wear) and a Chanel lambskin wallet on a chain with embossed camellias. I've seen some fakes in Vancouver, but the bags that get counterfeited the most are the Chanel totes with the knotted leather handles, quilting, and huge CC's in the corner. It's probably more difficult and more labour-intensive to fake a 2.55...the hardware and leather would have to look high-quality and the lines of the quilted pattern would have to line up EXACTLY across the back pocket and be contiguous with the rest of the quilting on the handbag. After having stared at mine for about 2 years or so, I like to think I'm good at spotting the bad fakes. :-) I agree with Haute World though--all these price hikes are a marketing strategy to maintain exclusivity.

    And hey, kudos to you for discussing Chanel purses and price hikes without heaping judgement on those of us who own one! It's way too easy to fall into catty insensitive rhetoric when talking about girls who own designer purses, as one commenter above did by saying it was "retarded," "embarassing," and "ridiculous" to spend that much on a bag. Everybody has their own spending vices and guilty pleasures, and as long as a person isn't going into debt or harming others by buying a nice purse--well, I don't see how you can climb on a high horse and think yourself morally superior because you chose to spend your hard-earned dollars on something other than a handbag.

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  70. pretty ones, but ohh so expensive!! I wonder my self why do these bags cost a lot of money??? yay..

    and yea maybe i could have an option for a lower cost that these tags?

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  71. i do think a lot of times people are just buying for the name/logo. but i will say that some expensive items deserve to cost more as they are better quality--but i don't think $3k for a bag is ever justifiable...unless i were filthy rich, of course. :)

    http://cherylclarke.blogspot.com

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  72. gosh the (medium?) 2.55 classic flap costs $4,100 now? wow. i do have one and i sure feel lucky now to have gotten it before the price increase. but in all fairness to chanel, the classic flap is the most versatile bag in my collection it can go from casual to formal, day time to night time, and the caviar leather is so durable and its scratch 'resistant', perfect for a klutz like me. hehe! :P

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  73. oh this sucks.. still its a classic and I'd proabbaly get one once I get a job :)
    page

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  74. i just had to comment on this
    1- great blog ,, am loving it <3
    2- thx for visiting my blog
    3- i love CHANEL ,, =(
    i have been dreaming about this bag for so long ,, and even told dad about it =D ,,, he said the exact same thing ,, You are paying only for the name ,,
    but i just love it =(
    if one day i had 28,000 $ monthly salary ,, i would defiantly buy it =)
    or save up for it ,, when i finish collage .

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