Chanel Price Increase March 2023: All The Information You Need
Yes, the rumors are true – there’s been another Chanel bag price increase in 2023. Here is everything you need to know if you are thinking about buying a timeless Chanel handbag.
The prices of luxury goods often increase by a little bit every year to keep up with rising production costs – however, the recent Chanel price hikes have been a little different. The prices of Chanel bags have increased quite dramatically over the last few years and we are going to explore why this is happening.
This article will take you through all the details of the price increase, why this increase has occurred, as well as top products from Chanel to get your hands on now.
Latest Chanel Price Increase – March 2023
Since January 2021, there have been six global price increases in Chanel handbags, with the latest one being in the beginning of March 2023.
Designer brands, including Chanel, regularly increase their prices a little bit to keep up with inflation and the perception of the brand, however, in recent years, Chanel has made several dramatic price hikes.
For example, the classic Chanel medium flap bag has increased over 60 percent since November 2019.
On top of these increases, Chanel has announced that there is now a limit on the amount of classic bags that a customer can buy in a year: just two, sadly.
This change has the aim of making Chanel bags more exclusive and desirable. However, if you wanted to buy more bags, it does seems that you may be able to get around this by purchasing the most sought-after pieces from different countries.
With this said, lets get into the most recent price increase – we’ve included prices in USD, EUR, and GBP.
The Price Changes for classic Chanel bags
Price Changes in USD
Information via PurseBlog and previously via Chanel.com
|Name of bag||March 23 Price||Old Price||% Difference|
|Mini Classic Flap Bag||$4,700||$4,200||12%|
|Mini Rectangular Classic Flap bag||$4,900||$4,400||11%|
|Small Classic Flap Bag||$9,600||$8,200||17%|
|Medium Classic Flap Bag||$10,200||$8,800||16%|
|Large Classic Flap Bag||$11,ooo||$9,500||16%|
|Maxi Classic Flap Bag||$11,500||$10,000||15%|
|Small 19 bag||$6,400||$5,700||12%|
|Large 19 bag||$6,800||$6,300||8%|
|Maxi 19 bag||$7,500||$6,900||9%|
|Small Boy Bag||$6,100||$5,400||13%|
|Medium Boy Bag||$6,600||$5,900||12%|
|Large Boy Bag||$7,000||$6,200||13%|
|Mini 2.55 Bag||$4,900||$4,400||11%|
|Classic 2.55 Bag|
|Large 2.55 Bag|
|Medium 22 bag||$5,800||$5,300||9%|
|Mini Chanel Coco Handle||$5,400||$4,800||13%|
|Small Coco Handle||$5,900||$5,000||18%|
Price Change in EUR
Prices via Chanel.com
|Name of bag||March 23 Price||Aug 22 Price||Latest % Difference|
|Mini Square Classic Flap Bag||€4,500||€4,150||8%|
|Mini Rectangular Classic Flap Bag||€4,700||–||–|
|Small Classic Flap Bag||€9,300||€8,450||10%|
|Medium Classic Flap Bag||€9,700||€8,990||8%|
|Large Classic Flap Bag||€10,500||€9,700||8%|
|Maxi Classic Flap Bag||–||€10,300||–|
|Small 19 bag||€6,100||–||–|
|Medium 19 bag||€6,700||–||–|
|Large 19 bag||€7,350||–||–|
|Small Boy Bag||€5,750||€5,450||6%|
|Medium Boy Bag||€6,350||€5,900||8%|
|Large Boy Bag||€6,700||€6,200||8%|
|Mini 2.55 Bag||€4,700||€4,350||8%|
|Classic 2.55 Bag||€9,700||€8,990||8%|
|Large 2.55 Bag||€10,500||€9,700||8%|
|Maxi 2.55 Bag||–||€10,300||–|
|Trendy CC bag||€6,600||–||–|
Price Changes in GBP
Prices via Chanel.com
|Name of bag||March 23 Price||Aug 22 Price||Latest % Difference|
|Mini Square Classic Flap Bag||£3,960||£3,480||14%|
|Mini Rectangular Classic Flap bag||£4,130||–||–|
|Small Classic Flap Bag||£8,180||£7,090||15%|
|Medium Classic Flap Bag||£8,530||£7,550||13%|
|Large Classic Flap Bag||£9,240||£8,140||14%|
|Maxi Classic Flap Bag||–||£8,650||–|
|Small 19 bag||£5,360||£4,740||13%|
|Large 19 bag||£5,890||£5,200||13%|
|Maxi 19 bag||£6,460||£5,710||13%|
|Small Boy Bag||£5,060||£4,570||11%|
|Medium Boy Bag||£5,580||£4,950||13%|
|Large Boy Bag||£5,890||£5,200||13%|
|Mini 2.55 Bag||£4,130||£3,650||13%|
|Classic 2.55 Bag||£8,530||£7,550||13%|
|Large 2.55 Bag||£9,240||£8,140||14%|
|Maxi 2.55 Bag||–||£8,650||–|
|Small 22 bag||£4,840||£4,280||13%|
|Medium 22 bag||£5,100||£4,490||14%|
|Large 22 bag||£5,500||£4,870||13%|
|Trendy CC bag||£5,800||–||–|
Why has there been an increase?
There are many reasons this Chanel price increase has happened, some reasons have been explained by the French fashion house, while others have been discussed in the media as to why they believe there has been a new price increase.
1. the effect of the pandemic
Recent years have been tough for Chanel; they are one of the few brands that do not sell their luxury handbags online. This meant that during the Coronavirus pandemic, the sales of the bags decreased dramatically as Chanel boutiques were closed and customers were not able to buy their favorite Chanel bags online.
Some shoppers have speculated that the price increases that have occurred are a way to make back the money they lost due to the pandemic.
2. raw materials
Fellow French luxury brand, Dior, has said their price increase is due to an increase in raw material prices and transportation costs – these same issues are affecting Chanel and their luxury goods as well.
Chanel has also explained how they want their luxury handbags to be of better quality. They are working hard to meet environmental standards, especially in tanneries in France, Spain, and Italy, where they are using more water-free methods of production.
3. their position in the luxury market
Some shoppers have discussed how the Chanel price hike is one way they are trying to change their position in the luxury market – they want to be a part of the Hermès world and move further from the Gucci and Louis Vuitton fashion world.
4. production costs
A Chanel spokesperson has stated that some part of these increases are due to ‘exchange-rate fluctuations’, as well as recent changes in production costs and the leveling-up project Chanel is currently undertaking – this is where they are trying to make sure their bags are the same price everywhere in the world.
5. Price harmonization
This ‘price harmonization policy’ was started in 2015 and the end result is meant to be that prices of luxury purses and bags do not differ by more than 10% between each country. The Chanel President, Bruno Pavlovsky, has explained that these new prices are because they want to offer customers the same price everywhere.
Previous Price Increases
In January 2021, the price of a Chanel bag increased by 4-7%, depending on the style. Then again in July 2021, prices increased again, this time the percentage increase was in the double figures. Then in November 2021, prices of Chanel classic flap bags increased again, making the third price hike within a year.
On March 3rd, 2022, global prices were increased again, with increases mainly happening across Chanel’s classic flap handbags. In August 2022, price increases hit classic Chanel bags in the UK and EU again (not in the US), with the most common price increase being 9%.
Our top Chanel bag picks
It is always a good time to buy a Chanel bag, but now is particularly great; Chanel bags are always going to increase, even by small increments, so buying a new bag from a Chanel boutique as soon as possible will mean you get the best price available.
The resale market is now a great place to get Chanel bags because of several reasons. Firstly, this is one way to buy a Chanel bag online, secondly, there may be some styles you can get your hands on that have been discontinued by Chanel and thirdly, although resale prices have also increased, they are still obviously more affordable than a new bag.
1. Chanel Caviar Quilted Medium Classic Flap
Chanel’s medium classic flap bags is of course our top choice from the brand, as it’s a style that will be eternally fashionable. Available in lots of different colors, this edition in quilted caviar leather is oh-so-stylish.
If you are looking for Chanel bags on the pre-loved market, it is always worth finding ones that come with the original receipt.
2. Chanel Caviar Quilted Coco Handle bag
If you are looking for a unique Chanel bag, then the Coco Top Handle bag is perfect. The body of the bag is made from caviar leather, while the polished gold hardware accentuates the stunning leather of this bag.
3. Chanel Tan 19 Bag
The Chanel 19 bag is one of the brand’s most popular bags, and it’s clear to see why. The gorgeous bag is incredibly easygoing and features both silver and gold hardware, so you can style it with almost any outfit.
The tan lamb leather version is especially coveted, but the bag also comes in multiple other colors as well as different fabrics like tweed.
We hope you found this article on the Chanel price increase in 2023 helpful! For more luxury fashion content, check out the links below.
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