Inflation in designer fashion has really come to the forefront in the past few years, increased demand from the growing global market and limitations on resources have impacted the cost of designer handbags. While not all designers have been increasing their prices as much as others, some well known brand have increased their prices by nearly 140% over the space of 10 years. So, who are the main offenders?
Designer Handbags increase in prices...
The name that comes to everyones mind when it comes to inflated pricing, is Chanel. Between 2010 and 2020, the price of a Chanel Classic Flat has increased by almost 140%, increase the price from $2,850 to $10,200.
These increases are not isolated just to Chanel, we have also seen the highly sought after Hermes Birkin increase by approve 40% from $8,000 to $12,000 in 2023. And that is if you can even get your hands on a new one!
Similarly we have seen Gucci increase prices, depending on the bag, the increases have ranged from 6% to nearly 21% in 2022 alone.
Next up we have Louis Vuitton! Known for its iconic LV monogram, which can be seen on one of its most popular bags, the NeverFull. The next victim to these price increases is indeed the Neverfull. The price of this piece has been raising steadily over the past 10 years, from $940 to $2030 in 2023.
Note: Prices are approximate and may depend on country & exchange rates.
Despite the seemingly bleak outlook for us designer accessory lovers who want to own and love a designer handbag, there are still opportunities to find designer handbags and accessories at more affordable prices, by shopping in the pre-loved and resale space. They have designer pieces that are unique, authentic and at a much more attractive price point not to mention those pre-loved pieces have stood the test of time.