The Parisian fashion house Chanel did announce that it will stop manufacturing products made from snakes, crocodiles and lizards, last Monday.
Handbags, shoes and clothes made from exotic skins are among the most expensive and coveted luxury products on the market, often commanding enormous premiums over similar products made from other materials. But Chanel said that it is difficult to obtain responsibly sourced skins. This was a deciding factor in its decision to stop using exotic skins. The sourcing of exotic skins is not matching their ethical standards. The full list includes crocodilians, snakes, lizards and galuchat (stingrays).
Many expect and want fur to be banned, but exotic skins on a whole is a new realm for handbag lovers who are used to see these skins being used. This move from Chanel makes the Parisian fashion house the largest player in luxury to ban the materials.
This means that existing Chanel exotic leather bags will become all the more rare and likely valuable on the resale market. It will take some time for products that include the lizard and crocodile leather to work their way out of boutique distribution. But if the distribution stops, the price on the resale market will increase. So do you have a Chanel medium flap bag made of crocodile leather? You have a real treasure in hands.