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Industry + Insights / May 15, 2020 / Emily
Chanel Price Increase In 2020

Updated 5/21: New and confirmed Chanel prices are in! Check out the latest blog here for actual Chanel price increase.

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The saying goes - when it rains, it pours. First, Louis Vuitton prices increased 5% in the latest hike this month. Now Chanel has confirmed on Wednesday that indeed its handbags and some small leather goods will increase as well. This would be the first Chanel price increase in 2020 in the US and across the rest of the world, following on the heels of their last price increase in October 2019. Recall it was just last Fall when Chanel increased prices on all classics, including Boy bags. The increases were small ~4% in the US and ~10% across Europe then.

Fast forward to today, like the LV price increase, the timing feels odd to increase prices during a global pandemic. While Chanel attributed the price hike to cost of materials, there has been talk for many years of making all countries align in prices or as Chanel calls it "price harmonization." 

Now let's spill the tea. Earlier this week, Chanel's European prices were published and the news is not good sign for US prices. Across the board, prices were increased by at least 4% up to 25% (sorry Mini bag lovers!).
To figure out what this could mean for you, we did the hypothetical math. If Chanel were to increase the prices the same % as Europe's  increase, (brace yourself) here's what that would look like:

Classic Flap

Classic Medium Double Flap Bag | Blue Lambskin | Shw
Chanel Classic Flap Sizes Expected 2020 Price* % Increase Old Price
Chanel Classic Mini Square Flap Bag  $                        4,000 25%  $     3,200
Chanel Classic Mini Rectangular Flap Bag  $                           4,018 14.80%  $     3,500
Chanel Classic Small Flap Bag  $                           6,287 20.90%  $     5,200
Chanel Medium Classic Flap Bag  $                           6,815 17.50%  $     5,800
Chanel Jumbo Classic  Flap Bag  $                           7,411 15.80%  $     6,400
Chanel Maxi Classic Flap Bag  $                           7,901 14.50%  $     6,900



Chanel Reissue

Chanel Reissue Flap Sizes Expected 2020 Price % Increase Old Price
Chanel Reissue 224 Bag  $                           6,287 20.90%  $     5,200
Chanel 255 Reissue Flap  $                           6,815 17.50%  $     5,800
Chanel 226 Reissue Flap Bag  $                           7,411 15.80%  $     6,400
Chanel 227 Reissue Flap Bag  $                           7,901 14.50%  $     6,900

Chanel Boy Bag

Chanel Boy Sizes Expected 2020 Price % Increase Old Price
Chanel Small Boy Bag  $                           4,798 4.30%  $     4,600
Chanel Medium Boy Bag  $                           5,245 4.90%  $     5,000
Chanel Large Boy Bag  $                           5,500 0%  $     5,500

Wallet on Chain "W.O.C."

W.O.C. Expected 2020 Price % Increase Old Price
Chanel Classic Quilted WOC Bag  $                           2,733 9.30%  $     2,500

 Chanel 19

Chanel 19 Sizes Expected 2020 Price % Increase Old Price
Chanel 19 Small Bag  $                           5,037 9.50% 4,600.00
Chanel 19 Large Bag  $                           5,421 6.30% 5,100
Chanel 19 Maxi Bag  $                           5,975 6.70% 5600
 
There may be a glimmer of hope. The price increase for Chanel classics may be different for the US shopper. Previously, if you lived or were traveling in the US, buying a seasonal bag in the US or Europe was relatively the same price. However, if you were pinning for a Classic bag, Europe was cheaper than the US. So if we were to assume the goal for Chanel is price harmonization globally, that could mean bags like the Classics may not go up as much as Europe (again, it could also be more too!). As soon as Chanel confirms the price increases in the US, we'll update that news here!

So what's a gal to do? The answer is easy: Buy Pre-Owned! These bags are clearly an investment, buying pre-owned saves you a ton of $$$ and it's sustainable. 

Here are few of our favorites that even before the price hike, are incredible steals: 
This gorgeous emerald green Chanel Classic Medium Flap Green Handbag is over 66% off retail. If the prices increases as predicted, it would be 71% off. I repeat, 71% off retail.
 
Chanel Classic Single Flap Bag Quilted Caviar Jumbo is 53% off retail and could be 60% off retail.
This gorgeous Chanel Wallet on Chain Bag  is a steal and in caviar leather.
This beautiful metallic Reissue bag is 59% off current retail and will be more off retail once the prices increases go into place this week.
My personal fave is this emerald blue Chanel 19 in tweed. Drool worthy and definitely a steal compared to retail!
For more Chanel bags, shop here.
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