Chanel Price Increase | November 2018

Chanel Jumbo Classic Flap Bag Price History Graph

Chanel has increased prices of three classic handbags styles by approximately six percent, effective November 1, 2018. In July, we reported that Chanel was raising their prices on several classic and seasonal styles. On October 17, Chanel released a statement saying that price increases are inevitable due to inflation and rising costs of production and materials; therefore, the prices of three bags, the Timeless Classic, Boy Chanel and 2.55 Reissue have been increased.

Chanel Timeless Classic Flap Bag Prices*

Chanel Classic Flap Bag Price List November 2018
*prices are for Calfskin leather bags

Chanel Small Classic Flap Bag (style #A01113): $5,000
Chanel Medium Classic Flap Bag (style #A01112): $5,600
Chanel Jumbo Classic Flap Bag (style #A58600): $6,200
Chanel Maxi Classic Flap Bag (style #A58601): $6,700
Chanel Classic Rectangle Mini Flap Bag (style #A69900): $3,500
Chanel Classic Square Mini Flap Bag (style #A35200): $3,200
Chanel Classic Wallet-On-Chain (style #A33814): $2,500

Chanel 2.55 Reissue Flap Bag Prices*

Chanel 2.55 Reissue Flap Bag Prices November 2018
*prices are for Calfskin leather bags

Chanel Reissue 2.55 Wallet on Chain (style #A70328): $2,900
Chanel Reissue 2.55 225 Bag (style #A37586): $5,600
Chanel Reissue 2.55 Large 226 Bag (style #A37587): $6,200
Chanel Reissue 2.55 Maxi 227 Bag (style #A37590): $6,700

Chanel Boy Bag Prices*

Chanel Boy Bag Price List November 2018
*prices are for Calfskin leather bags

Chanel Boy Wallet-On-Chain (style #A92193): $2500
Chanel Small Boy Bag (style #A67085): $4500
Chanel Old Medium Boy Bag (style #A67086): $4900
Chanel New Medium (Large) Boy Bag (style #A67085): $5400

Why does Chanel raise prices?

Chanel bags increase in value. The original Chanel 2.55 flap bag sold for $220 in February 1955. If you bought a Chanel Caviar Classic Jumbo Flap bag in 2009 for $2695, the price of the same bag is now $6100 (see chart). When the Chanel Medium Boy Bag was introduced in 2011, the price started at $2500. Today, a Medium Boy bag is $5400.

Inflation and basic economics: more demand means higher prices. Chanel will continue to increase prices as long as the demand is there. The more money people are willing paying for them, the more value Chanel bags have.

Next, the cost of material and labor increase over time. If Chanel is paying a higher price for the lambskin leather, they will compensate the loss with your wallet. The cost of labor has gone up too, a Chanel bag is probably made in France, Italy or Spain by very skilled artisans.

Price increases should drive customers away, but for Chanel and Hermes, it works the opposite. Exclusivity makes people want something more. Chanel continues to thrive, despite price increases.

Not happy about price increases? Buy pre-loved!

You can buy pre-loved Chanel handbags from Yoogi’s Closet every item comes with an authenticity promise — for a fraction of the price. Depending on the year and condition, you can buy a pre-owned Chanel Classic Flap bag for approximately 15-35% off retail prices. If you have your eye on a Chanel bag, you should consider buying pre-owned if a $6k price tag is too much.

Shop authentic Chanel bags

Do price increases make you more likely to buy new or pre-owned Chanel? Do the price increases scare you? Let us know in the comments or on Facebook.

Chanel Handbag Collection Shelfie with Chanel Classic Flap, 2.55 Reissue and Boy Bag | Shop Chanel on Yoogi's Closet, Authenticated Pre-Owned Luxury

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