A Chanel handbag is more than just an accessory, denoting status and style as well as a passion for all things high-end and luxurious. The fact is that, from a buyer’s perspective, a Chanel handbag is up there as one of the most coveted products – made evermore desirable by the limited supply, which means that every authentic bag can fetch well above its original retail value on the second-hand market.
But how do Chanel handbags compare with other luxury brands that claim the same coveted status and demand? And what is it about the Chanel brand that puts it above the competition for both style lovers and investment buyers?
Chanel’s Position in the Market Alongside Other Luxury Brands
As a brand, Chanel boasts a history that is much broader than simply designing and selling handbags, encompassing fashion and jewellery, as well as the iconic Chanel perfume and other accessories. A brand that is built on the needs of real women, Chanel has garnered its own position in the market as an innovative and revolutionary brand, led by Coco Chanel herself, whose own desires and ideas sparked genuine transformations across the style market.
In order to recognise the power of the Chanel brand, particularly in relation to handbags, it’s important to note who the main competitors are in the luxury market. Some names that we will touch upon in this blog include Louis Vuitton, Hermès, Gucci, and Prada – all of which have their own selling points and their own loyal following.
Without further ado, let’s consider Chanel in comparison with these other top brands, by covering a few main areas that matter to buyers and sellers alike.
Legacy and Heritage
One of the key reasons why Chanel and other luxury brands have become so popular on the market is the status that lies in every product. Chanel, for example, is famous as much for the history and legacy of Coco Chanel herself as for the innovative designs that lie behind every handbag and accessory. As such, owning a Chanel bag is akin to owning a piece of the brand’s history – something which collectors and investment buyers alike revel in.
Similarly, other top luxury brands benefit from this same heritage status – with Hermès of note when it comes to legacy, owing to how many of its products are named after and have been made famous by celebrity and high-end endorsements. The Hermès Birkin is as famous for its backstory as it is for its coveted design, as is the Hermès Kelly.
There are always aspects and features of luxury handbags that elevate them above the majority of the market – however, what really connects them with buyers is the way that these designs combine innovation with timeless concepts that are developed but remain grounded in the same overall design concept. For example, the Chanel 2.55 was first developed by Coco Chanel herself as an extension of the existing Chanel handbag – enhancing the practicality by adding a shoulder strap. Over time, this same overriding concept has remained, with future designs and collections boasting added features and innovative design details.
Craftsmanship and Materials
Have you ever noticed how many high-end or luxury brands talk about quality craftsmanship as a main selling point? Exceptional quality has long underpinned the Chanel brand, resulting in the consistent price increase that only serves to bolster the status of each handbag further and make it even more coveted.
Chanel bags are made by some of the best crafters in the business, using the finest fabrics and materials, the most in-depth quality control checks, and some of the most innovative authenticity indicators available on the market.
Of course, Chanel is not the only brand using these high-grade materials, with Hermès giving the brand a run for its money in terms of high-end and often incredibly valuable materials – including exclusive crocodile skins that adorn some of the most expensive Hermès bags on the market.
Which leads us nicely on to the next point…
Exclusive Limited Editions
Every luxury brand has its own collection of limited pieces and exclusive releases. Chanel is one such brand that creates exclusive editions and limited collections, built on the foundation of its existing and most popular designs and concepts. What this does is add further status to the exclusive pieces, by giving them all the selling points of a classic Chanel but with innovative and limited designs and finishes.
Hermès and Louis Vuitton are also known for doing this, combining different coloured leathers and hardware finishes with unique shapes, designs, and finishes.
Resale Value and Investment
Not only do brands themselves increase the cost and value of their own goods, but the resale and second-hand market is notorious for hiking prices, especially of the more coveted and exclusive collections. As soon as a Chanel handbag leaves the shop, its price can increase with the right authentication and valuation checks in place – meaning that many buyers will seek to invest in a piece and simply retain it in a like-new state as a tangible investment piece.
Influence and Appeal
How much impact does celebrity influence have on the luxury market? Well, you need only look at how many people know that James Bond wears a Rolex to be able to answer that – acknowledging the role that celebrity influence has on the appeal of buyers across both the style-conscious and investment market.
Hermès is another brand for which both influence and celebrity appeal play a huge role, as evidenced by the backstory to both the Kelly and the Birkin collections, which were born from the ideas and uses of well-known and loved celebrities.
Is a Chanel Handbag Worth the Investment?
So, is a Chanel handbag worth the investment? In this article, we’ve looked at some of the top selling points of Chanel and how these advantages relate to other brands on the luxury market. A Chanel handbag is as much an investment in history and legacy as it is an investment in an accessory, which is why so many style-loving and financially conscious buyers are investing in both original and innovative exclusive models.
If you’re interested in buying a Chanel handbag, finding a reputable reseller is the first and most important thing to do, as they will ensure top-level valuation and authentication checks prior to purchase.