By What can I say… luxury community has been shaken this May! First, with the second price increase this year from Louis Vuitton and now with an absolutely outrageous price increase from Chanel. For a while, I’ve heard rumors about Chanel’s desire to harmonize prices across regions. For many years, luxury shoppers could buy classic bags from Chanel for significantly less by shopping in Europe. Most of the time, savings were so impressive that they fully justified the travel. However, it looks like soon this practice will be over. Effective of May 11th, 2020, Chanel has increased their prices in Europe. Furthermore, throughout the month, prices were increased in other regions too. In this blog post, I would like to take a look at the old and new Chanel prices around the World.
Let’s start by looking at the effect the May 2020 Chanel price increase had on prices of classic bags in Europe. The bag that suffered the most drastic price increase is the Classic Mini Square Flap Bag. It went up from €2680 to €3350, which is a whopping 25% price increase. Other classic bags that went up in price for over 20 percent in Europe are the Classic Small Flap Bag and Reissue 224. Classic Mini Rectangular Flap bag is now going to cost €3500 in Europe (14.8% price increase). The Jumbo went up in price for over 15 percent and now retails €6600. Classic Maxi Flap Bag now retails for €7100. In Europe, Chanel has increased prices on most of their classic bag styles. The only classic bag that hasn’t increased in price yet is the New Medium Boy, staying at the €4980 price tag.
Chanel Bag Prices in Europe (May 2020)
|
Chanel Bag Prices in Europe |
Previous Price (€) |
New Price May 2020 (€) |
% Change |
| Classic Mini Rectangular Flap Bag |
€3,050 |
€3,500 |
14.8% |
| Classic Mini Square Flap Bag |
€2,680 |
€3,350 |
25% |
| Classic Small Flap Bag |
€4,550 |
€5,500 |
20.9% |
| Classic Medium Flap Bag |
€5,150 |
€6,050 |
17.5% |
| Classic Jumbo Flap Bag |
€5,700 |
€6,600 |
15.8% |
| Classic Maxi Flap Bag |
€6,200 |
€7,100 |
14.5% |
| Small Boy Flap Bag |
€4,120 |
€4,300 |
4.3% |
| Old Medium Quilted Boy Flap Bag |
€4,480 |
€4,700 |
4.9% |
| New Medium Boy Flap Bag |
€4,980 |
€4,980 |
0% |
| Reissue 224 Bag |
€4,550 |
€5,500 |
20.9% |
| Reissue 225 Bag |
€5,150 |
€6,050 |
17.5% |
| Reissue 226 Bag |
€5,700 |
€6,600 |
15.8% |
| Reissue 227 Bag |
€6,200 |
€7,100 |
14.5% |
| Gabrielle Small |
€3,600 |
€3,900 |
8.3% |
| Gabrielle Medium |
€4,000 |
€4,100 |
2.5% |
| Chanel 19 Small Bag |
€4,200 |
€4,600 |
9.5% |
| Chanel 19 Medium Bag |
€4,700 |
€5,000 |
6.3% |
| Chanel 19 Maxi Bag |
€5,150 |
€5,500 |
6.7% |
| Classic Quilted WOC |
€2,150 |
€2,350 |
9.3% |
Bags that suffered the most from the May 2020 Chanel price increase in the United States are Classic Medium Flap and Reissue 225. They both increased in price for over 12 percent. Classic Mini Rectangular Flap will now retail at $3800, which is an 8.6 percent price increase. Price of the Classic Mini Square Flap went up from $3200 to $3600. Chanel Classic Jumbo Flap bag is now going to retail at $7100. An interesting observation about the Chanel May 2020 price increase in the Unites States is that the Boy bags remained unaffected. Small Boy still retails at $4600, while Old Medium Quilted Boy and New Medium Boy have maintained their price tags of $5000 and $5500 respectively.
Chanel Bag Prices in the United States (May 2020)
|
Chanel Bag Prices in the United States |
Previous Price ($) |
New Price May 2020 ($) |
% Change |
| Classic Mini Rectangular Flap Bag | $3,500 | $3,800 | 8.6% |
| Classic Mini Square Flap Bag | $3,200 | $3,600 | 12.5% |
| Classic Small Flap Bag | $5,200 | $5,800 | 11.5% |
| Classic Medium Flap Bag | $5,800 | $6,500 | 12.1% |
| Classic Jumbo Flap Bag | $6,400 | $7,100 | 11% |
| Classic Maxi Flap Bag | $6,900 | $7,700 | 11.6% |
| Small Boy Flap Bag | $4,600 | $4,600 | 0% |
| Old Medium Quilted Boy Flap Bag | $5,000 | $5,000 | 0% |
| New Medium Boy Flap Bag | $5,500 | $5,500 | 0% |
| Reissue 224 Bag | $5,200 | $5,800 | 11.5% |
| Reissue 225 Bag | $5,800 | $6,500 | 12.1% |
| Reissue 226 Bag | $6,400 | $7,100 | 11% |
| Reissue 227 Bag | $6,900 | $7,700 | 11.6% |
| Gabrielle Small | $3,900 | $4,100 | 5.1% |
| Gabrielle Medium | $4,100 | $4,300 | 4.9% |
| Chanel 19 Small Bag | $4,600 | $4,800 | 4.3% |
| Chanel 19 Medium Bag | $5,100 | $5,300 | 3.9% |
| Chanel 19 Maxi Bag | $5,600 | $5,800 | 3.6% |
| Classic Quilted WOC | $2,500 | TBA | TBA |
What do we know about the Chanel price increases in Australia and Asia so far? Similar to Europe and the United States, Chanel Classic Flaps and Mini’s have significantly jumped in price in Australia. The Classic Mini Square Flap Bag before the price increase used to retail at A$4560, but today it is A$5980, which is a 31 percent price increase. Classic Small Flap went up in price for 27 percent in Australia, now retailing at A$9820. An overhelming response to Chanel price increase was received from South Korea, where shoppers formed a line outside a Seoul Department Store at 5am to buy Chanel bags before the prices rise.
Disclaimer: prices in this blog post are listed for information purposes only. Actual prices in boutiques may vary.
What do you think?