These are the (shocking) new prices of the Chanel classics

Designer-Vintage
Getty Images
11 May 2020

After Louis Vuitton's price increase last week, Chanel has also officially announced a price increase today. And not just any price increase: the prices of the classics (including the Classic Flap Bags, Boy Bags and Chanel 19 bags) have risen by no less than 4 to 25% (!). For the time being, the increase seems to apply only to the European market, because they are the first to open shops again. It is therefore not unlikely that once the stores in other parts of the world reopen, they will also experience a price increase.

Annual price increase Chanel

The prices of Chanel bags increase every year. In October 2019 they increased the price of the Medium Flap Bag, the Reissue and the Boy Bag. The price increases are quite significant, with prices rising from a few to almost 10% every year. The US market experienced minimal price increases in December 2019 compared to the European market. The prices of the Medium and Jumbo Classic bags, 2.55 bags and all sizes of the Boy Bag increased by "only" 2% to 4%. The price increases in Europe were more severe. Prices rose on average by 7%. In the United Kingdom, prices even increased by 8% to 9%.

Possible influence covid-19 on Chanel prices

Many people are angry and frustrated with Chanel's high price increase, especially in times like these when many people are struggling financially. However, we should take into consideration that Chanel, among other companies, was hit very hard by covid-19. Because they had to close all their stores worldwide for months and they don't sell most of their leather goods online, they have sold few products in the past 3 months. In addition, they deployed their production facilities during the crisis to create protective face masks and medical gowns. On top of that, Chanel decided as a company to fund the salaries of its employees out of its own pocket. The company said in a statement: 

"Our aim is not to weigh on the public accounts so the French state can prioritize help to the most vulnerable companies, and focus it's resources on the health system and its doctors and nurses."

It's inevitable that the pandemic will have major consequences worldwide for various companies. Likewise, Chanel will have to find a way to recover as a company and the current price increase could be part of that.

Price increase Chanel 2020

Below you will find an overview of the new increased prices.

 

Classic Flap Bag
Style New price Old price Percent increase
Mini square €3350 €2680 25%
Mini rectangular €3500 €3050 14,8%
Small €5500 €4550 20,9%
Medium €6050 €5150 17,5%
Jumbo €6600 €5700 15,8%
Maxi €7100 €6200 14,5%


 

Boy Bag
Style New price Old price Percent increase
Small €4300 €4120 4,3%
Old medium guilted €4700 €4480 4,9%
New medium €4980 €4980 0%


 

Reissue Bag
Style New price Old price Percent increase
Reissue 224 €5500 €4550 20,9%
Reissue 225 €6050 €5150 17,5%
Reissue 226 €6600 €5700 15,8%
Reissue 227 €7100 €6200 14,5%

 

Gabrielle Bag
Style New price Old Price Percent increase
Small €3900 €3600 8,3%
Medium €4100 €4000 2,5%
Backpack €3450 €3280 4,9%

 

Chanel 19 Bag
Style New price Old price Percent increase
Small €4600 €4200 9,5%
Large €5000 €4700 6,3%
Maxi €5500 €5150 6,7%

 

W.O.C Bag
Style New price Old price Percent increase
Classic quilted WOC €2350 €2150 9,3%

 

Don't feel like spending 2 or 3 times your monthly salary on a Chanel bag? Then consider a nice vintage one. Check out our extensive range of vintage Chanel bags here.

Chanel beauty