Photo Credit: @therealfashionblogger
While we are accustomed to Chanel increasing its prices this time of the year, we had hoped not to witness another round of price increases any time soon. For those of you just tuning in, Chanel had taken us all by surprise by increasing prices in May this year. The timing – right in the middle of the pandemic, as well as the quantum of increase, was unexpected.
Chanel admitted to the price increase, citing rising cost of raw materials and the brand’s goal of price harmonization as the reasons behind the hike. Prices across popular styles went up 5-15% in the US and 10-20% in Europe! Australia saw the most significant increase ranging between 20-30% for some of the popular styles. Asia too was impacted.
The news isn’t necessarily bad. Avid collectors who value their handbags as investments can seek solace in the fact that price hikes translate to a commensurate increase in resale value.
Back to the present…The brand has just implemented its annual round of price increases in the UK. The current round of price increases isn’t staggering, but as a second round in one calendar year… a double whammy!
Photo Credit: @_bricksandmortar_
We have summarised price increases over 2020 in the UK for some of the popular styles:
| Chanel Bag Styles | Prices in March 2020 (GBP) | Prices in June 2020 (GBP) | Prices in Oct 2020 (GBP) | Round 1 Increase (%) | Round 2 Increase (%) | Cumulative Increase (%) |
| Small Boy Bag | £3,690 | £3,770 | £3,930 | 2% | 4% | 7% |
| Medium Boy Bag | £4,020 | £4,120 | £4,300 | 2% | 4% | 7% |
| Large Boy Bag | £4,470 | £4,470 | £4,470 | 0 | 0 | 0 |
| Mini Classic Flap (square) | £2,730 | £3,070 | £3,070 | 12% | 0 | 12% |
| Mini Classic Flap (Rectangle) | NA | NA | £3,210 | NA | NA | NA |
| Classic Medium Flap | £4,620 | £5,300 | £5,550 | 15% | 5% | 20% |
| Classic Jumbo Flap | £5,110 | £5,780 | £6,050 | 13% | 5% | 18% |
| Classic Maxi Flap | £5,560 | £6,220 | £6,510 | 12% | 5% | 17% |
| Medium 2.55 Bag | £4,620 | £5,300 | £5,550 | 15% | 5% | 20% |
| Large 2.55 Bag | £5,110 | £5,780 | £6,050 | 13% | 5% | 18% |
| Maxi 2.55 Bag | £5,560 | £6,220 | £6,510 | 12% | 5% | 17% |
| Medium Coco Handle | £3,150 | £3,150 | £3,350 | 0 | 6% | 6% |
| Large Coco Handle | £3,380 | £3,380 | £3,580 | 0 | 6% | 6% |
| Medium Chanel 19 | £3,940 | £3,940 | £4,130 | 0 | 5% | 5% |
| Large Chanel 19 | £4,410 | £4,410 | £4,590 | 0 | 4% | 4% |
| Maxi Chanel 19 | £4,830 | £4,830 | £5,040 | 0 | 4% | 4% |
| Small Vanity Case | £4,720 | £4,720 | £4,720 | 0 | 0 | 0 |
| Vanity Case | £4,890 | £4,890 | £4,890 | 0 | 0 | 0 |
| Chanel Bag Styles | Prices in March 2020 (GBP) | Prices in June 2020 (GBP) | Prices in Oct 2020 (GBP) | Round 1 Increase (%) | Round 2 Increase (%) | Cumulative Increase (%) |
| Small Boy Bag | £3,690 | £3,770 | £3,930 | 2% | 4% | 7% |
| Medium Boy Bag | £4,020 | £4,120 | £4,300 | 2% | 4% | 7% |
| Large Boy Bag | £4,470 | £4,470 | £4,470 | 0 | 0 | 0 |
| Mini Classic Flap (square) | £2,730 | £3,070 | £3,070 | 12% | 0 | 12% |
| Mini Classic Flap (Rectangle) | NA | NA | £3,210 | NA | NA | NA |
| Classic Small Flap | £4,080 | £4,820 | £5,040 | 18% | 5% | 24% |
| Classic Medium Flap | £4,620 | £5,300 | £5,550 | 15% | 5% | 20% |
| Classic Jumbo Flap | £5,110 | £5,780 | £6,050 | 13% | 5% | 18% |
| Classic Maxi Flap | £5,560 | £6,220 | £6,510 | 12% | 5% | 17% |
| Medium 2.55 Bag | £4,620 | £5,300 | £5,550 | 15% | 5% | 20% |
| Large 2.55 Bag | £5,110 | £5,780 | £6,050 | 13% | 5% | 18% |
| Maxi 2.55 Bag | £5,560 | £6,220 | £6,510 | 12% | 5% | 17% |
| Medium Coco Handle | £3,150 | £3,150 | £3,350 | 0 | 6% | 6% |
| Large Coco Handle | £3,380 | £3,380 | £3,580 | 0 | 6% | 6% |
| Medium Chanel 19 | £3,940 | £3,940 | £4,130 | 0 | 5% | 5% |
| Large Chanel 19 | £4,410 | £4,410 | £4,590 | 0 | 4% | 4% |
| Maxi Chanel 19 | £4,830 | £4,830 | £5,040 | 0 | 4% | 4% |
| Small Vanity Case | £4,720 | £4,720 | £4,720 | 0 | 0 | 0 |
| Vanity Case | £4,890 | £4,890 | £4,890 | 0 | 0 | 0 |
The most popular styles – The Classic Flaps and The Reissue, witnessed the most significant cumulative price increase this year. The price of the Small Classic Flap Bag went up a staggering 24%! The Classic Flap Bag and The Reissue in the popular medium size witnessed a 20% price increase over the course of the year. The cumulative increase for the Boy Bag and Chanel 19 have been in the relatively modest range of 4-5%, and price of the vanity case has remained unchanged.
Given past patterns, we expect similar price increases across the globe and in the US very soon. Stay tuned for further updates.
Read related articles:
Chanel Price Increase Confirmed for USA: Here are the New Prices 2020
Chanel Admits to Price Increase: Here are the New Prices 2020
Australia Faces the Steepest Chanel Price Increase
Global Chanel Price Increases Eliminate Advantages to Shopping Abroad
Chanel Price Increases Push the Birkin Premium Down – Here’s How Much!
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Updated: October 28th, 2020
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