CHANEL PRICE INCREASE 2020: THE NEW EUROPE AND US PRICES
Chanel has increased the prices of their leather goods. Yes, you heard it right. Hello fashionistas, I’m sure you all have heard that Chanel has recently increased the prices of their leather goods. ( Handbags to be precise). In the middle of May, Chanel increased it’s prices on majority of bags in the European market just as quarantine restrictions began to ease up and stores reopened across majority of the continent. Chanel US also followed suit some weeks ago and enact a price increase across majority of classic bags as well. Luckily for the US market, the percent increase is not quite as high as the EU faced.
After Chanel increased prices for its European market, a lot of Chanel lovers including myself were not happy about the increase. I saw some online comments by some Chanel lovers who expressed their disappointments in the price increase. In an emailed statement, Chanel shared that “The price adjustments only regard Chanel’s iconic handbags, 11.12 and 2.55, as well as Boy, Gabrielle, Chanel 19 bags and certain small leather goods. These adjustments are made while ensuring that we avoid excessive price differentials between countries, in line with our commitments regarding price harmonization.” However, Chanel told Reuters the increase in euros ranged between 5% to 17%, even though we’ve had confirmation that on the high end there was a 25% change for the Mini Square Flap Bag as well as a 21% increase on the Small Classic Flap and Reissue 224. This larger increase is said to reflect currency and exchange rate fluctuations. WWD spoke with Chanel about the increase as well, and offers an insightful look into the brand’s decision to increase pricing. When asked by WWD, Chanel stated that the price increase had nothing to do with COVID and store closing, rather was part of the twice yearly look at strategy and price reevaluation. When speaking with WWD, “Chanel stressed that any price increases are implemented only after careful consideration, and are necessary for the brand to continue investing to maintain its core standards of creativity and craft.”
As Chanel stated, in the last few years it’s worked to harmonize prices across the globe in order to make a level priced playing field for all. In years prior, different markets were far more favorable to shop with the exchange rate and VAT. So it was assumed and expected that Chanel would be issuing a price increase for the US market following the news of the new prices that took effect in Europe.
Chanel US Price Increase: The US increase was more steady, around 11-12% for majority of Classic Flap and Reissues, while the Chanel 19 only saw about a 4% increase. The Boys’ prices are unchanged.
Chanel EU Price Increase: While the rumors were swirling about the exact increase that many beloved bags would face, we can confirm that in some cases it was above the 17% figure that was being floated around. If you’re a fan of Boy Bags, take a sigh of relief because the changes there were the lowest, with a 4-5% change. However, the classics were hit hardest, with a 25% change at the high end for the Mini Square Flap Bag. The rest of the Classics saw around a 14-17% increase with the Small Classic Flap and Reissue 224 seeing a 21% increase.
Here are the new prices for your guidelines.
NEW US CHANEL PRICES MAY 2020
Classic Bag US Prices
Reissue Bag US Prices
Boy Bag US Prices
W.O.C. US Prices
Gabrielle Bag US Prices
Chanel 19 US Prices
EUROPEAN CHANEL PRICES
Classic Bag Prices
Reissue Bag Prices
Boy Bag Prices
Gabrielle Bag Prices
Chanel 19 Prices