This $24,000 Chanel Crocodile 2.55 bag is actually good for the crocodiles. Here's how it works: Crocodile bags become very popular, croc farming becomes very popular, croc poaching becomes less profitable. So if you buy this bag, you are actually being eco-friendly. It's called the 2.55 bag and comes in multiple colors.
Implications - We are in an era of consumption, regardless of real financial or economic ability. Even consumers who cannot afford luxury goods are buying luxury products; thus, the overall intrinsic value of any luxury product stands to decrease. We have already seen this with Louis Vuitton bags -- it is possible that other high-end labels, like Chanel, will be affected as this shift in consumption continues.