It’s everywhere – talk of the latest Chanel price increase during the COVID-19 pandemic. 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 May 2020, 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, who also recently had a price increase earlier in 2020. See the Louis Vuitton price increase 2020 details here.
Chanel Price Increase UK – June 2020
|Image||Bag Style||Original Price £||New Price £||£ Difference||% Difference|
|Small Chanel Boy||£3690||£3770||£80||2%|
|Medium Chanel Boy||£4020||£4120||£100||2.5%|
|Large Chanel Boy||£4470||£4470||£0||0%|
|Maxi Classic Flap||£5560||£6220||£660||11%|
|Large Classic Flap||£5110||£5780||£670||12%|
|Small Classic Flap Bag||£4080||£4820||£740||17%|
|Small Top Handle Flap Bag||£2920||£2920||£0||0%|
|Medium Top Handle Flap Bag||£3150||£3150||£0||0%|
|Large Top Handle Flap Bag||£3380||£3380||£0||0%|
|19 Flap Bag||£3940||£3940||£0||0%|
|19 Large Flap Bag||£4410||£4410||£0||0%|
|19 Maxi Flap Bag||£4830||£4830||£0||0%|
|Shopping Tote /|
|Small Vanity Case||£4720||£4720||£0||0%|
|Large Vanity Case||£4890||£4890||£0||0%|
Chanel Price Increase US – June 2020
Below is a table showing the before and after price difference of Chanel bags after the price increase in June 2020.
|Image||Bag Style||Original Price $||New Price $||$ Difference||% Difference|
|Small Chanel Boy||$4600||$4600||$0||0%|
|Medium Chanel Boy||$5000||$5000||$0||0%|
|Large Chanel Boy||$5500||$5500||$0||0%|
|Maxi Classic Flap||$6900||$7700||$800||11%|
|Large Classic Flap||$6400||$7100||$700||10%|
|Small Classic Flap Bag||$5200||$5800||$600||10%|
|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||$4800||$200||4%|
|19 Large Flap Bag||$5100||$5300||$200||4%|
|19 Maxi Flap Bag||$5600||$5800||$200||4%|
|Shopping Tote /|
|Small Vanity Case||$5800||$5800||$0||0%|
|Large Vanity Case||$6000||$6000||$0||0%|
Chanel Price Increase the EU – May 2020
|Image||Bag Style||Original Price €||New Price €||€ Difference||% Difference|
|Small Chanel Boy||€4120||€4300||€180||4.3%|
|Medium Chanel Boy||€4480||€4700||€220||4.9%|
|Large Chanel Boy||€||€||€|
|Maxi Classic Flap||€6200||€7100||€900||14.5%|
|Large Classic Flap||€5700||€6600||€900||15.8%|
|Small Classic Flap Bag||€4550||€5500||€950||20.9%|
|Small Top Handle Flap Bag||€||€||€0||0%|
|Medium Top Handle Flap Bag||€||€||€0||0%|
|Large Top Handle Flap Bag||€||€||€0||0%|
|19 Flap Bag Small||€4200||€4600||€400||9.5%|
|19 Large Flap Bag||€4700||€5000||€300||6.3%|
|19 Maxi Flap Bag||€5150||€5500||€350||6.7%|
|Shopping Tote /|
|Small Vanity Case||€||€||€0||0%|
|Large Vanity Case||€||€||€0||0%|
Summary of Chanel May / June Price Increases 2020
In summary, the price increase for Chanel in May / June was only focused on the ‘classics’ which are the main classic style bags including the Classic Flap, Re-Issue, and the Chanel Boy bag.
The EU has been the worst hit with this recent price increase, with prices increasing on average across the classic range by 12%. This was closely followed by the average UK price increase at 11% and finally the US with a 9% increase.
The most affected are the Chanel classic flap range and the re-issue range, seeing incredibly large increases of around 10-20%.
How often does Chanel increase their prices?
Chanel generally increases their prices once a year. The price increase is usually at the end of the year, but in 2020 we’ve documented a price increase mid-year in May. The Chanel price increase is usually around 10% but will vary based on bag styles.
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 price increase in May 2020 Chanel might not decide to increase prices again, however, it wouldn’t be out of the question to expect another price increase at the end of 2020.
Chanel Price Increase in History
From 2020 onwards we’ll be tracking the price increases from major brands such as Chanel and Louis Vuitton. Check back on the website for on-going price updates when these brands increase their prices.
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.