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Industry + Insights / May 22, 2020 / Emily
Chanel Price Increase In 2020: The New And Confirmed

The news you have been waiting for all week is here. The Chanel price increase in 2020 for the U.S. has been confirmed. See what your favorite Chanel bags cost now.

Previously, we had confirmed the European prices increases and created hypotheses to figure out what could be the US price increase would be. Well, beginning this Friday, May 22, 2020, there will be an increase for the US but few percent lower than we predicted. The US increase was less volatile than the EU and ranged from 11% to 12% for most Chanel Classic Flaps and Reissue and ~4% increase for Chanel 19s.

Chanel Classic Flap 

New Price Old Price % Increase
Chanel Classic Mini Square Flap Bag  $        3,800  $                   3,500 8.50%
Chanel Medium Classic Flap Bag  $                   6,500  $                   5,800 12.00%
Chanel Jumbo Classic  Flap Bag  $                   7,100  $                   6,400 11.00%
Chanel Maxi Classic Flap Bag  $                   7,700  $                   6,900 11.60%

 

Chanel Reissue

New Price Old Price % Increase
Chanel Reissue 224 Bag  $                   5,800  $                   5,200 11.50%
Chanel 255 Re-issue Flap  $                   6,500  $                   5,800 12.00%
Chanel 226 Re-issue Flap Bag  $                   7,100  $                   6,400 11.00%
Chanel 227 Re-issue Flap Bag  $                   7,700  $                   6,900 11.60%

Chanel 19

New Price Old Price % Increase
Chanel 19 Small Bag  $                   4,800  $                   4,600 4.30%
Chanel 19 Large Bag  $                   5,300  $                   5,100 3.90%
Chanel 19 Maxi Bag  $                   5,800  $                   5,600 3.50%

We will update shortly with Boy prices, but are expecting it to follow the EU's lead at a lower percent.

Now you may be wondering what this means for you. Should you buy that bag here or next time you travel to the EU? Well, according to Chanel, the prices now reflect a minor difference now in price even with the currency and exchange rate fluctuations. We did the math and it's about 1% - 5% difference with today's current exchange rate. Per Chanel's interview with WWD about the recent price increase, Chanel stated that this current price hike was not Covid-19 related or even store closings related, but part of their overall pricing strategy and maintaining their quality and craft.

In any case, it just goes to show you now is the time to invest in Chanel and pre-owned is the way to go. These babies hold their value and are worth every investment. Check out some of these gorgeous pre-owned Chanel bags for less here.

 

 

 

 

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