Next Chanel Price Increase & Chanel Bag Prices 2024
Every year brings with it the buzz of a Chanel price increase, sparking a rollercoaster of emotions for the devoted fashion lover.
In 2024, the anticipated annual price climb of these luxury treasures has us once again, balancing our love for Chanel’s timeless elegance with the practicality of our budgets.
If you’re caught between your affection for high fashion and keeping your finances in check, stay tuned.
In this article, I’ll dive into Chanel’s latest price list and some savvy insights on maneuvering through these price increases.
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When Is Chanel’s Next Price Increase?
It’s no secret that Chanel keeps increasing its prices and will continue to do so.
Over the past few months, there have been rumors about Chanel increasing their prices.
Sadly, these rumors have been confirmed – Chanel’s latest price increase is in full effect.
Chanel increased their prices on select handbags on March 27, 2024.
The following email was sent out to Chanel clients on March 20, 2024:
“Dear CHANEL Client,
As a leading luxury brand, CHANEL regularly adjusts the prices of our products based on various factors such as production costs, materials, and exchange rates. Due to the strong inflation in the price of exceptional noble materials and the increase in the cost of labor for rare and talented Human Resources, we will increase the retail prices of select handbags effective March 27, 2024.
The retail price increase will impact the core styles of our Collection (COL) and Re-order (REV) offers. On March 22, 2024, we will provide a detailed list of the affected styles so all current stock can be re-ticketed on March 25th and March 26th in preparation for the effective date.
Thank you very much for your support and partnership.
Very best,
CHANEL Handbag Merchandising Team”
Chanel’s Price Increase (March 2024)
- Mini Square Classic Flap: $4,700 to $5,000 ($300 difference / 6.3% increase)
- Mini Rectangle Classic Flap Flap: $4,900 to $5,200 ($300 difference / 6.1% increase)
- Small Classic Flap: $9,600 to $10,400 ($800 difference / 8.3% increase)
- Medium Classic Flap: $10,200 to $10,800 ($600 difference / 5.8% increase)
- Jumbo Classic Flap: $11,000 to $11,700 ($700 difference / 6.3% increase)
- Maxi Classic Flap: $11,500 to $12,300 ($800 difference / 6.9% increase)
- Classic Wallet on Chain: $3,350 (no change)
- Chanel 22 Mini: $5,000 (no change)
- Chanel 22 Small: $5,500 (no change)
- Chanel 22: $5,800 (no change)
- Chanel 22 Large: $6,300 (no change)
- Chanel 19: $6,400 to $6,600 ($200 difference / 3.1% increase)
- Chanel 19 Large: $6,800 to $7,300 ($500 difference / 7.3% increase)
- Chanel 19 Maxi: $7,500 to $7,900 ($400 difference / 5.3% increase)
- Mini 2.55 Bag: $4,900 to $5,200 ($300 difference / 6.1% increase)
- Medium 2.55 Bag: $10,200 to $10,800 ($600 difference / 5.8% increase)
- Large 2.55 Bag: $11,000 to $11,700 ($700 difference / 6.3% increase)
- Small Boy Bag: $6,100 to $6,400 ($300 difference / 4.9% increase)
- Medium Boy Bag: $6,600 to $6,900 ($300 difference / 4.5% increase)
- Large Boy Bag: $7,000 to $7,300 ($300 difference / 4.2% increase)
- Trendy (Flap Bag with Top Handle): $6,900 to $7,100 ($200 difference / 2.8% increase)
- Mini Top Handle Classic Flap: $5,400 to $5,600 ($200 difference / 3.7% increase)
- Mini Coco Handle: $5,400 to $5,600 ($200 difference / 3.7% increase)
- Small Coco Handle: $5,900 to $6,200 ($300 difference / 5% increase)
For comparison, below are prices from Chanel’s last price increase in September of 2023.
In the last price increase we saw prices increasing by $500+. Mind you, this was just six months ago.
In less than 10 years, Chanel’s medium Classic Flap has more than doubled in price from $4,900 in 2016 to $10,200 in present day.
Check out my latest article on Chanel’s price increase history for more price point history and details.
I have this suspicion that Chanel has stepped up their game prices in order to compete with Hermes.
Chanel may be able to match Hermes’ pricing, but for me, Chanel’s quality is simply not there.
But as long as consumers continue to demand Classic Flaps and WOCs with interlocking CCs, I do not doubt that Chanel will continue increasing its prices.
Is Chanel Ever Discounted?
Yes! Believe it or not, Chanel goes on sale.
Twice a year, Chanel holds two types of sales: private sales and bi-annual sales. They both take place in June and December.
Check out my Chanel sales article to get all the juicy details.
I’d hate for you to miss out on the next opportunity to get Chanel on sale!
Related Designer Sale Article: Does Chanel Go On Sale? Yes! What You Need to Know
Is Chanel Still a Good Investment?
Hmm, this is a tough question.
The answer mostly tilts towards yes, particularly for certain iconic pieces.
Chanel’s history of price increases and the brand’s unwavering status in the luxury market signify that select bags, especially classic models, can serve as robust investments.
Classic pieces not only retain their value over time but may also appreciate, especially in an era where vintage fashion is reclaiming its glory.
However, the investment wisdom with Chanel, as with any luxury asset, calls for discernment—choosing timeless over trendy, ensuring impeccable condition, and sometimes, simply being at the right place at the right time.
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In a volatile market, Chanel’s legacy of elegance and exclusivity positions it as a potentially valuable addition to an investment portfolio, embodying both financial promise and the ineffable joy of luxury ownership.
However, many Chanel lovers (myself included) believe that the quality of Chanel has gone downhill over recent years, despite their consistent price increases.
I wish I lived in the days of Chanel’s 24k-plated gold hardware…sigh.
But, wait – you can still snag vintage pieces on the second-hand market.
If anything, I believe that the older models with better quality are more appealing investments than what Chanel is producing nowadays.
Continue reading to learn more..
Best Places to Buy Used Chanel Bags
I’ve personally bought the majority of my Chanel collection from the pre-owned market. Considering the price of today’s Classic Flap, I don’t regret it!
If you’re looking for consistent discount option on Chanel items, consider purchasing pre-owned as well.
In general, I personally love shopping pre-owned when I’m on the hunt for something vintage or from a previous season.
Resale price are influenced by the item’s condition, rarity, and market demand. While the prices may still be high (depending on the item you’re looking for), you can save a few hundred dollars and still get the same iconic look!
Below are my favorite, trustworthy sites to shop pre-owned, or “pre-loved” as I like to call it.
- Fashionphile
- Rebag
- The RealReal – try using the code “REAL” for a 20% discount (exclusions may apply)
- FWRD Renew
- Farfetch
- What Goes Around Comes Around
- Gilt
- Rue La La
- Vestiaire Collective
- Poshmark
- eBay
Poshmark and eBay allow sellers to list items directly from their closets. This means buyers may have to sift through numerous listings to find their desired luxury piece.
Buyers must do their homework on an item’s condition, authenticity verification, and seller reliability.
On the flip side, alternative third party resellers listed above position themselves as a specialized concierge service for buying and selling luxury goods.
Related Designer Sale Article: How to Get Access to Chanel’s Private Sale
While the thrill of hunting for that coveted Chanel piece at a discount can be exhilarating, potential buyers must conduct thorough research and due diligence to avoid disappointments and counterfeits.
Please do your due diligence and carefully examine all the photos and thoroughly read the details and descriptions.
All the resale sites I’ve listed below are trustworthy, however, mistakes can happen. Human error is a real thing, and although the chances are very slim, a super-fake can slip through the cracks.
If you ever doubt authenticity, you can have your purchase authenticated directly with an additional third-party authentication service.
Where is Chanel Cheapest In The World?
The quest for the most budget-friendly Chanel purchase takes us around the globe.
Believe it or not, Chanel is cheapest in Paris, France, the birthplace of the Chanel empire.
Contrary to what one might expect, purchasing Chanel in Paris can be significantly more economical due to several factors.
Firstly, the prices in Chanel’s home country include VAT (Value Added Tax). International visitors can claim VAT back upon leaving the European Union. This makes these coveted items slightly cheaper.
Additionally, the proximity to the source reduces shipping and importation costs that can inflate prices in other countries.
Thus, for those looking to add a piece of Chanel’s timeless luxury to their collection, a shopping day in Paris not only offers the allure of buying in the brand’s homeland but also potentially the most cost-effective option worldwide.
Think about it: the flights to & from Paris are nothing compared to the cost of your dream bag.
Wrapping Up Chanel Price Increase 2024
Chanel’s annual price tag shuffle is more than a mere budgeting bump; it’s a fascinating glimpse into the ebb and flow of luxury fashion itself.
It calls us to adapt, learn, and play the game with elegance, all while asking ourselves “is it still worth it?”
As long as consumers continue to demand Classic Flaps and WOCs with interlocking CCs, Chanel will continue to increase its prices.
Will Chanel crush our luxury hopes and dreams by pricing us out?
Only time will tell.
P.S. How do you feel about Chanel’s latest price increase? Comment below!
Related Designer Articles:
- Does Chanel Go On Sale? Yes! Everything You Need to Know
- How to Get Access to Chanel’s Private Sale
- Where to Find Louboutin Discounts Year-Round!
- Does YSL Go On Sale? The BEST Saint Laurent Discounts
