It’s everywhere – talk of the latest Chanel price increase in 2021. To document this price increase we’ve pulled together a list of Chanel’s key bag styles and their original price before the increase in January 2021, and afterward. Whilst generally Chanel lovers are sad that the prices are increasing (no one wants to pay more when they’ve seen it advertised for less), it is an essential practice to keep the bags and brands’ luxury perception.
Why Chanel Increase their Prices
Chanel, like many other designer brands, regularly increase their prices on an annual basis. This is due to keeping up with inflation, brand perception, and staying in-line with other designer brands. Whilst the increases generally aren’t so welcome from brand lovers, especially larger % hikes, it, unfortunately, shouldn’t come as too much of a shock.
The benefit of Chanel increasing their prices are clear – these bags generally hold their value well, and it can mean a piece that you purchased years ago could now be worth more than what you paid for it. These bags are often seen as investment pieces, not just a throw-away fashion piece that over time will lose its value and that’s part of the appeal and justification for many to take the plunge and purchase.
Chanel work on a similar basis to other luxury brands such as Louis Vuitton, which also recently had a price increase earlier in 2020. See the Louis Vuitton price increase 2021 details here.
Chanel Price Increase UK £ – January 2021
|Image||Bag Style||Original Price £||New Price £||£ Difference||% Difference|
|Small Chanel Boy||£3770||£3930||£160||4%|
|Medium Chanel Boy||£4120||£4300||£180||4%|
|Large Chanel Boy||£4470||£4470||£0||0%|
|Maxi Classic Flap||£6220||£6510||£290||5%|
|Large Classic Flap||£5780||£6050||£270||5%|
|Small Classic Flap Bag||£4820||£5040||£220||4%|
|Small Top Handle Flap Bag||£2920||£3120||£200||7%|
|Medium Top Handle Flap Bag||£3150||£3300||£150||5%|
|Large Top Handle Flap Bag||£3380||£3620||£240||7%|
|19 Flap Bag||£3940||£4130||£190||5%|
|19 Large Flap Bag||£4410||£4590||£180||4%|
|19 Maxi Flap Bag||£4830||£5040||£210||4%|
|Shopping Tote /|
|Wallet on Chain||£||£2590||£||%|
|BOY Wallet on Chain||£||£2190||£||%|
|Chanel 19 Wallet on Chain||£||£2650||£||%|
Chanel Price Increase US $ – January 2021
Below is a table showing the before and after price difference of Chanel bags in the United States after the January price increase.
|Image||Bag Style||Original Price $||New Price $||$ Difference||% Difference|
|Small Chanel Boy||$4600||$4900||$300||6%|
|Medium Chanel Boy||$5000||$5300||$300||6%|
|Large Chanel Boy||$5500||$5600||$100||2%|
|Maxi Classic Flap||$7700||$8000||$300||4%|
|Large Classic Flap||$7100||$7400||$300||4%|
|Small Classic Flap Bag||$5800||$6200||$400||7%|
|Small Top Handle Flap Bag||$3700||$3700||$0||0%|
|Medium Top Handle Flap Bag||$4000||$4000||$0||0%|
|Large Top Handle Flap Bag||$4300||$4300||$0||0%|
|19 Flap Bag||$4600||$5100||$500||10%|
|19 Large Flap Bag||$5100||$5600||$500||9%|
|19 Maxi Flap Bag||$5800||$6200||$400||7%|
|Shopping Tote /|
|Wallet on Chain||$||$3100||$0||0%|
|Boy Wallet on Chain||$||$2750||$||%|
|Chanel 19 Wallet on Chain||$||$3250||$||%|
Summary of Chanel 2021 Price Increases
In summary, the price increase for Chanel in January 2021 was mostly focused again on the ‘classics’ and popular new Chanel 19 bag.
In the UK the bag ranges most affected are the top handle bag (+6%), Classic flaps (+5%), 2.55 Reissue (+5%), smaller boy bags (4%)
In the US the bag styles move affected by the price increase are the New 19 Bag (+9%), Classic Flaps (6%), and smaller Boy bags (6%).
The US has been the worst hit with this recent price increase, with prices increasing on average across the classic range by nearly 4.9%. This was closely followed by the average UK price increase at 4.6%.
The most affected are the Chanel 19 Bag, classic flap, and small boy bags.
How often does Chanel increase their prices?
Chanel generally increases their prices once a year. However, with the recent pandemic hitting in 2020 and continuing into 2021 as well as other political factors such as Brexit, the increases are coming thick and fast. The last increase was documented in June 2020, see details of that increase here.
Everyone knows that Chanel increases their bag prices every year and they never go on sale, so if you’re debating purchasing one the price will never be cheaper than it is today. However, this is where the pre-loved market really comes into its own.
You can pick up older styles, sizes, and colorways with a good discount on RRP if you know where to shop. We generally purchase our used Chanel stock on eBay, always buy from a seller with great feedback and ALWAYS get your bag an Authentication Certificate when it arrives for peace of mind that your pre-loved Chanel bag is real.
When is the Next Chanel Price Increase?
Due to the recent global climate being so unstable right now, we expect another increase in mid to late 2021, and possibly a further increase at the end of 2021 or early 2022.
How to Beat the Chanel Price Increase
The only way to beat the Chanel increase is to buy your new Chanel bag as soon as possible from a Chanel boutique. Prices will never be reduced or styles sold in a sale, so you can garantee that the price you see today is the cheapest you can purchase the bag for.
The other way is to purchase a Chanel bag pre-loved (most are so well looked after they’re like new!), from a market place like eBay, Vestaire Collective, or a reputable re-seller, such as Handbagholic.co.uk. If you are purchasing pre-loved make sure you’re buying from a reputable seller with lots of good feedback. Always purchase via the platform such as eBay and never direct transfer funds or use Paypal Friends and Family increase the bag isn’t as expected.
Personally, we feel that the pre-loved market is the way forward. It’s exciting, fun and can be a huge saving on Chanel retail prices.