EDITOR’S UPDATE: Aug 9th.
No longer just a rumor, Chanel flap prices are up in Europe. According to its German website, the medium classic flap now costs 8990€, representing a 9% increase. Prices rose similarly on other classic flap sizes.
Here are the new prices:
Classic flap small 7750€ – after increase 8450€
Classic flap medium 8250€ – after increase 8990€
Classic flap jumbo 8900€ – after increase 9700€
Prices are expected to increase 5% on all other leather categories and RTW, shoes etc.
And so it begins… rumors abound about French brands raising prices in Europe due to parity between the US dollar and the euro. Americans, in particular are finding huge shopping savings this summer during their European vacations due to the strong dollar.
In a recent interview with Reuters, PurseBop anticipated that brands would ultimately increase pricing to eliminate or reduce the heavy advantage. Well, that time appears to be now – and even earlier than may have been anticipated. It could be as soon as this Wednesday, August 10, 2022.
Sources tell us to expect a 10% hike on Chanel items for the European market. Others say Louis Vuitton will also raise its prices to eliminate the great deals but we were unable to confirm this with official sources.
Handbag Math for a Chanel Medium Classic Flap
As we just reported in Buying a Chanel Classic Flap at the Flagship in Paris and the Savings the handbag math proves the large savings. We quote directly:
In Paris, a medium classic flap sells for €8250. With the 13% VAT refund of €1072.50, that brings the cost to €7,177.50.
In the United States, the same flap costs $8,800 plus tax (for this example, let’s say 9.5%, which is $836 in taxes). Total US price: $9,636.
At the time of purchase, the euro to dollar was at parity. One dollar equaled one euro.
Total savings: $2,458.50
At first glance, it might seem that a 10% increase is insufficient to account for the savings in our example. However, recall that not all non-European shoppers are entitled to VAT refunds.
A ten percent increase on current euro pricing (€8250) brings the flap to €9075. In other words, not so different than the $8800 U.S. price.
Read: Buying a Chanel Classic Flap at the Flagship in Paris and the Savings. Photo: Chanel Rue Cambon, Paris.
Chanel Chicago
While American tourists may be disappointed, Europeans likely will experience the greater impact of this pricing change. Already dealing with inflation and the declining euro, it’s another hit to their wallets. And, for Chanel, it would be the second price hike in Europe in six months. The last increase was March 1st, 2022.
Read: Confirmed: New Chanel Classic Prices in Euros
Of course, if Chanel keeps to its global price harmonization strategy, these Europe only price hikes make sense. What do higher prices in Europe mean on a global scale? We will keep you updated as this story unfolds.
Read related articles:
A Sobering View of Paris Shopping for Hermès, Chanel, and More
Buying a Chanel Classic Flap at the Flagship in Paris and the Savings
Shopping Implications for the Dollar and Euro Approaching Parity
Chanel Reveal: Yes Please, I Would Love a Classic Flap from 22A
Chanel Bags Are Best Investments Against Inflation Says One Report
Updated: August 15th, 2022
Comments
1 Responses to “Here are the New Chanel Prices in Europe August 2022”
Understandable they would increase prices to try to find a “balance” between the Euro and the USD. But it’s still cheaper, at this point anyways, to buy from Europe since it’s “only” a 10% increase. A 13% VAT refund will be US$7,900. And that’s at parity. Euro is already slightly lower than $1 so it’s still worth it to buy from Europe (if you’re a non-Euro resident that is). And so far, Chanel has not raised it’s US prices…yet.