Jun 23, 2010

ALERT: Classic Chanels going up in price

Mizhattanites, some unfortunate news to report. I just received solid confirmation from my SA, at the 57th flagship, that prices for all classic Chanel bags will increase on July 1st. This includes the Reissue/2.55. The estimated increase will be around 15% from current retail markings and will be in effect worldwide. For reference, the much sought-after jumbo caviar is currently priced at $2,995. So, we should see a jump of around $400 for this lovely label staple.

It was just this February (not even 6 months ago) when Chanel increased its prices on these popular classics. In this Mizhattanite's perspective, the July increase seems partly due to Chanel compensating for the weak Euro. But, my SA interestingly informed me that compared to its competitors, these quilted beauties have been vastly underpriced.

If you are a discerning patron of Chanel and have an interest in investing in one of these classics--especially the jumbo caviar--the time is now. They are still available at Saks and Bergdorf. The flagship's inventory of 15 (as of two weeks ago) has dwindled down to 2--with one of them already on hold for a lucky shopper.

Updated: Incorrect date. Details of new date for price increase here.
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