Oh dear, what is one to do? A friend shares the news of the hike in luxury goods… seems like it is worth the share or at least an eye roll, right?
But seriously, the classic quilted Chanel bag has increased in price 70% in FIVE YEARS?!! The oh so coveted bag now carries the pretty price tag of $4900. (No. Big. Deal.) The Wall Street Journal article reports external factors like the overall decrease in luxury spending in addition to increased competition from more “affordable” luxury brands like Tory Burch and Michael Kors have prompted high-end designers to maintain their “higher end” status with price increases.
Oh. Ok.
Instead of the price increase adding more appeal to the brands, shoppers are saying no thank you and not buying! Well, that makes sense and like the appropriate response!
As a result, companies like LVMH are taking financial hits, but consumers are really the ones who suffer most. A Mill Valley, California, woman tells the WSJ she will only be able to buy three pairs of Jimmy Choos this year, as opposed to her usual four or five. The poor thing. Soaring Luxury-Goods Prices Test Wealthy’s Will to Pay [WSJ]
But don’t worry guys, while it is not Chanel… H&M continues to deliver! H&M Studio has its own dedicated design team at H&M, who each season creates a limited-edition collection full of the hottest looks and statement pieces. During Paris Fashion Week, the autumn/winter 2014 H&M Studio collection was revealed and gets the thumbs up. The line will be available in select stores and online September 4, 2014.
Happy Shopping, love bugs!
xoxo- Kellie