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Fashion

Why a Chanel bag is now 17 percent more expensive?

What could make a bag that was, say, $3,000 in February worth 17 percent more today?
The price hikes apply only to the iconic 11.12 and 2.55 handbags as well as the the Boy, Gabrielle and Chanel 19 bags.
The price increases are not an attempt to recoup some of the revenue lost during the coronavirus shutdowns that have devastated discretionary spending the world over. “The current situation has absolutely no link with this decision,” the missive read. Rather, the move is part of an ongoing strategy of price reevaluation.
As to how the specific increase amounts were arrived at, the company gave a nonspecific answer: “The price of a Chanel bag reflects not only a sense of exclusivity, but also our values. Buying a Chanel bag brings with it renowned expertise and French design, an unfailing commitment to preserve skills and craftsmanship, leading-edge innovative manufacture, and guaranteed provenance of the raw materials. These investments are essential to guarantee the longevity of such iconic products [and to keep them] up to the standard’s Chanel’s clients expect.”