Chanel to Increase Prices 20% in November

Chanel continues to live by a kind of oblivious "no time like the present!" mantra, what with its recent Zaha Hadid installation and now the news of a 20% price increase on its classic handbags, set to take effect November 1. According to fashion blog nitro:licious, a Classic Caviar Jumbo Flap Bag (above) that currently retails for $2,850 will jump to $3,420 in a mere couple weeks.

Didn't think I'd ever say my handbag was performing better than my 401(k), but I think Chanel just said it for me.