Why I spent $5,800 on a Chanel bag

Why I spent $5,800 on a Chanel bag

Double-digit prices hikes have reached the fashion industry. Luxury handbag collector Alyssa Lenore, 31, purchased a Chanel classic flap bag in May 2020 for $5,800. Later that month, the price jumped to around $6,300. Similar bags have jumped nearly 63% since 2019, but demand for these items continues. Watch the video to learn what's driving the rise in prices of these luxury handbags, and how it will impact Chanel.
Tue, Jul 5 20228:00 AM EDT

French luxury fashion house Chanel has raised the prices of its popular handbags worldwide. For example, the price of the small classic handbag has jumped by about 63% from 2019. Inflation has spiked prices at other luxury brands, but Chanel's products stand out as being especially pricey. Watch the video to learn why the prices of these luxury handbags are rising.