If you are someone who loves luxury fashion and is looking to invest in it, then you must have considered Chanel as an option. Chanel is a brand that has been around for over 100 years and has established itself as a symbol of luxury and sophistication.
But the question remains – is Chanel a good investment? Let’s explore.
History of Chanel
Before we delve into whether or not Chanel is a good investment, let’s take a look at the history of the brand. Chanel was founded in 1909 by Gabrielle “Coco” Chanel in Paris, France. The brand started out as a small boutique selling hats, but over time it evolved into a fashion empire.
Chanel is known for its iconic designs such as the little black dress, the quilted handbag, and the two-tone shoe. The brand has also expanded into other areas such as fragrance and beauty products.
The Resale Value of Chanel
One factor to consider when determining if Chanel is a good investment is its resale value. Chanel products are known to hold their value well and even increase in value over time.
For example, the classic Chanel flap bag has increased in price by 70% over the past six years according to a report by Art Market Research. This means that if you were to buy a Chanel flap bag today, it could potentially be worth more in the future if you decide to sell it.
The Rarity Factor
Another reason why Chanel products hold their value well is because they are often limited edition or rare pieces. This means that there are only a certain number of them available which drives up demand and ultimately increases their value.
For example, the limited edition Chanel No. 5 Grand Extrait perfume bottle designed by artist Jean-Michel Othoniel sold for $30,000 at auction according to Forbes. This was because there were only 55 bottles made which made it a highly sought after and rare piece.
The Brand’s Reputation
Chanel’s reputation as a luxury brand is another reason why it is considered a good investment. The brand has a long-standing history of quality and craftsmanship which has earned it a loyal following.
Investing in Chanel products means investing in the brand’s reputation. As long as Chanel continues to maintain its high standards, its products will continue to hold their value.
Conclusion
In conclusion, Chanel is considered a good investment because of its resale value, rarity factor, and reputation as a luxury brand. However, it’s important to keep in mind that not all Chanel products are created equal and some may hold their value better than others.
If you’re considering investing in Chanel, do your research and choose wisely. With the right investment, you could potentially make a profit while owning a piece of fashion history.