Chanel Price Increase August 2022: All The Information You Need

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Have you been wondering about the Chanel bag price increases in 2022? 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 year 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 Increases 2022 (August)

Over the past two years, there have been five price increases of Chanel handbags, with the latest one in August 2022, affecting UK and EU prices (exact prices of bags below in $, £, and €!).

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 by over 60 percent since November 2019.

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. Now in August 2022, the latest price increase has hit classic Chanel bags in the UK and EU again (not in the US), with the most common price increase being 9% – but you’ll find the exact details in the tables below.

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, it seems that you may be able to get around this by purchasing the most sought-after pieces from different countries.

The Price Changes for classic Chanel bags

Price Changes in USD

(No price increase in August 2022)

Name of bag November 2021 Price March 2022 Price % Difference
Mini Classic Flap Bag $4,400 $4,400
Small Classic Flap Bag $7,100 $8,200 15%
Medium Classic Flap Bag $7,800 $8,800 13%
Large Classic Flap Bag $8,500 $9,500 13%
Maxi Classic Flap Bag $9,200 $10,000 9%
Small Boy Bag $5,400 $5,400
Medium Boy Bag $5,900 $5,900
Large Boy Bag $6,200 $6,200
Mini 2.55 Bag $4,400 $4,400
Classic 2.55 Bag
Large 2.55 Bag
Maxi 2.55 Bag $10,000 $10,000

Price Changes in GBP

Name of bag March 2022 Price August 2022 Price Latest % Difference
Mini Classic Flap Bag £3,360 £3,480 4%
Small Classic Flap Bag £6,510 £7,090 9%
Medium Classic Flap Bag £6,930 £7,550 9%
Large Classic Flap Bag £7,475 £8,140 9%
Maxi Classic Flap Bag £7,935 £8,650 9%
Small Boy Bag £4,200 £4,570 9%
Medium Boy Bag £4,535 £4,950 9%
Large Boy Bag £4,785 £5,200 9%
Mini 2.55 Bag £3,360 £3,650
Classic 2.55 Bag £6,930 £7,550 9%
Large 2.55 Bag £7,475 £8,140 9%
Maxi 2.55 Bag £7,935 £8,650 9%

Price Change in EUR

Name of bag March 2022 Price August 2022 Price Latest % Difference
Mini Classic Flap Bag € 4,000 €4,150 4%
Small Classic Flap Bag €7,750 €8,450 9%
Medium Classic Flap Bag €8,250 €8,990 9%
Large Classic Flap Bag €8,400 €9,700 15%
Maxi Classic Flap Bag €9,450  €10,300
Small Boy Bag €5,000 €5,450 9%
Medium Boy Bag €5,400 €5,900 9%
Large Boy Bag €5,700 €6,200 9%
Mini 2.55 Bag €4,000 €4,350 9%
Classic 2.55 Bag €8,250 €8,990 9%
Large 2.55 Bag €8,900 €9,700 9%
Maxi 2.55 Bag €9,450 €10,300 9%

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.

Our Chanel bag top 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.

3 Brilliant Ways To Save Hundreds On Luxury Products
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1. Chanel Caviar Quilted Medium Classic Flap
Chanel Classic Flap Bag Price Increases In 2022
Get this on Fashionphile

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 authenticity card. The condition and authenticity of this bag mean its resale value is $6,595.

2. Chanel Calfskin Quilted Small Boy Flap Bag
Chanel Boy Bag Price Increase 2022
Get this on Fashionphile

The Chanel boy bag is one of their iconic bags, and it’s clear to see why. This small Boy Bag, in smooth pale pink quilted leather, is a timeless addition to any bag collection.

The stunning matte silver chain also guarantees versatility. The current price of this bag from Chanel is about $4,040, while on the secondary market, it is available for $3,460.

3. Chanel Caviar Quilted Mini Coco Handle bag
Pink Coco Handle Chanel bag
Get this on Fashionphile

If you are looking for a unique Chanel bag, then this Mini Coco Handle bag is perfect. The body of the bag is made from caviar leather, while the top hand is coved in lizard-embossed leather for a luxurious finish. The polished gold hardware accentuates the stunning leather of this bag.

The price of this extra-special Chanel bag on the second-hand market is $5,650.

We hope you found this article on the Chanel price increase in 2022 helpful! For more luxury fashion content, check out the links below.

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