Chanel has released its new pricing structures for 2024. We knew it was inevitable, as Chanel’s chief financial officer, Philippe Blondiaux, signaled two years ago that Chanel was going to implement regular, bi-annual price increases “to account for currency fluctuations and inflation.”
While Chanel has continued to cite inflation and the ever-increasing rise in the cost of both materials and labor, its exorbitant price hikes have consistently come under fire from critics and fans alike.
Still, the brand instills yearly price increases as it aims to further align itself at the top of the luxury food chain, sitting with the likes of Hermès.
The Classic Flap and Reintroduction of the 11.12
Ahead of this 2024 increase, Chanel has once again campaigned to prove to its fans that its Classic Flap, which now retails for $10,800, a whopping 86% higher than its 2019 price of $5,800, is a great investment.
Ahead of its Fall/Winter 2024 show, the brand released a new campaign starring Penelope Cruz and Brad Pitt to emphasize the timelessness and value of the iconic Classic Flap. It’s also important to note that Chanel renamed the Medium Flap to the 11.12, which is a nod to the old name.
Bruno Pavlovsky, President of Fashion at Chanel, told WWD, “Price increases can become an issue when the quality doesn’t match the cost,” going on to insist that the House works hard to increase the quality and craft of its products.
Pavlovsky believes that its brand loyalists will understand, despite fans continuously lamenting that the excessive price increases are not warranted, citing quality control issues and the trend towards investing in vintage Chanel instead of new.
The 2024 Price Increase In Numbers
The increase affects all Chanel bags across the board, but the percentage increase is far lower than what we’ve come to expect in the past few years. Last year, the Classics were hit with a 16% increase on average, while this year only sees a 6.7% increase for the classic styles.
This marks a significant shift in pricing strategy, a trend consumers hope will cause other fashion houses to follow suit.
| Classic Bags | New Price | Old Price | % Increase |
| Chanel Classic Mini Square Flap Bag | $5,000 | $4,700 | 6.4% |
| Chanel Classic Mini Rectangular Flap Bag | $5,200 | $4,900 | 6.1% |
| Chanel Classic Small Flap Bag | $10,400 | $9,600 | 8.3% |
| Chanel Classic Medium Flap Bag | $10,800 | $10,200 | 5.9% |
| Chanel Classic Jumbo Flap Bag | $11,700 | $11,000 | 6.4% |
| Chanel Classic Maxi Flap Bag | $12,300 | $11,500 | 7.0% |
| Chanel Classic Flap Mini Top Handle | $5,600 | $5,400 | 3.7% |
| Chanel Coco Handle Mini | $5,600 | $5,400 | 3.7% |
| Chanel Coco Handle Small | $6,200 | $5,900 | 5% |
The Maxi Classic Flap now retails for a whooping $12,300, priced right in the same ballpark as a 30cm Hermès Togo Birkin.
| Boy Bags | New Price | Old Price | % Increase |
| Chanel Small Boy Flap Bag | $6,400 | $6,100 | 4.9% |
| Chanel Medium Boy Flap Bag | $6,900 | $6,600 | 4.5% |
| Chanel Large Boy Flap Bag | $7,300 | $7,000 | 4.3% |
The Boy bags increased by less than 5%, a figure that is right in line with the US’s 2023 inflation rate of 4.1%.
| Chanel 19 Bags | New Price | Old Price | % Increase |
| Chanel 19 Small Bag | $6,600 | $6,400 | 3.1% |
| Chanel 19 Large Bag | $7,300 | $6,800 | 7.4% |
| Chanel 19 Maxi Bag | $7,900 | $7,500 | 5.3% |
A similar story is told for the Chanel 19 lineup of bags.
| Chanel 22 Bags | New Price | Old Price | % Increase |
| Chanel 22 Mini Bag | $5,000 | $5,000 | – |
| Chanel 22 Small Bag | $5,500 | $5,500 | – |
| Chanel 22 Bag | $5,800 | $5,800 | – |
| Chanel 22 Large Bag | $6,300 | $6,300 | – |
| Chanel 22 Large Backpack | $5,800 | $5,800 | – |
Where Do We Go From Here?
Despite the ever-increasing prices, demand for Chanel continues to skyrocket, with plenty of bags still sold before they ever hit the boutique, letting you know that while shoppers are highly critical of its practices, it isn’t pricing out its core customers, and that is exactly who Chanel continues to cater to.
We’ll continue updating this article once more information becomes available.
You can also stay updated on tPF over in the Chanel Price Increase master thread.
I’ve updated the initial rumors article with the new, confirmed prices.
If they’re going to a 10k price point and up, AT LEAST bring back the gold plated hardware and quality they used to have.
Give me a 3oz of solid gold instead, at least Id be happy to see the price increase!
They can’t even cover gold-plated with a 14% increase haha. Consumers are smart-we know it’s not COGS and inflation. Just say “corporate greed” and I’d have more respect for the company.
They also need to allow for a better repair service. At Hermes for a price they will repair almost anything, even at Louis. Chanel over 5 years they want receipts. That shouldn’t be needed. As an example I have a GST Ive carried twice. Bought it from Neiman’s over the phone. The store receipt is practically transparent 10 years later and you can’t read the ink. If I need service on this bag at some point I shouldn’t have an issue.
When I buy a bag, I take a picture of the bag and its receipt. All receipts seem to fade too quickly.
Use a UV/black pen light and take a photo of it. A little trick I learned working with old receipts!
Louis Vuitton has a record of every single bag I have ever bought from their boutiques. I found this out when I had one stolen and needed proof for my insurance claim. Why doesn’t Chanel do this, and via their authorized sellers (department stores)?
Neiman Chanel Boutique did this for me in 2023! I can enter a link online and see my Chanel purchases.
Really? This is good to know especially since I misplace some of my receipts, but when I sell I require proof of purchase. Thank you!
Agree! They returned mine because pieces were discontinued, Chanel lacks service
Anyone else over the “same bag in every size” phase?
As I get older, my desire to have multiple sizes of the same Chanel bag has greatly diminished.
As the price increases and the quality decreases, I appreciate indie brands more and more. They’re much more unique, not ubiquitous and you don’t see every other person carrying it.
Yes this is where I am a currently! It all became a bit like toys for adults and while my love of bags is truly lifelong, collecting is definitely not for me. Realistically nothing is an investment unless it is completely unused and that takes away from the joy of it. Sadly luxury brands think that exclusivity just means jacking up prices. I kind of wish Chanel would make the flap 30k and they can reap the failure they so richly deserve. Most truly wealthy people I know bought their years ago and are not regular bag customers, clothes are another matter.
It’s remarkable to witness the enduring allure of Chanel amidst rising prices. This phenomenon underscores the timeless appeal and prestige associated with the brand. Despite economic fluctuations, Chanel’s reputation for luxury, craftsmanship, and iconic design continues to captivate consumers worldwide, fueling unprecedented demand. It’s a testament to the brand’s unwavering commitment to excellence and its ability to transcend trends, making it a symbol of enduring elegance and sophistication.
In other words, it’s good marketing.
I’d say it is riding on its past glory days.
The quality has diminished whilst prices have skyrocketed.
Many savvy customers have moved on.
I think at a surface level it would seem like these statements are correct; however, I would argue that the maintained demand is due to “panic buying” from consumers who are afraid to be out priced in 5 minutes. It’s also from consumers who buy the bag for status or the appeal of it, when they are not a regular Chanel client (she drives a jeep and has a classic flap. I would be in that category if I had one).
It’s the marketing and scarcity of specific designs (although they churn out collections like Forever 21) that are driving demand. Not quality and heritage as in the past.
And the ultra-wealthy don’t care, it doesn’t affect them. I can only imagine what that must be like.
Do you work for Chanel’s PR department? Many comments on this blog are about its decrease in quality and market super saturation.
I thought the same thing. Straight out of their PR department, once legal approved it.
Mark, why did you have to run your response through Chat GPT?
Well, according to Vogue business Chanel’s “annual profits surged 171% in 2020. Revenues reached $15.6 billion up 49.6% compared to 2019. Operating profit reached $5.5 billion, a 57.5% increase on pandemic 2019”. So, while their operating costs have gone up their profit margin is dramatically increasing as well. They can keep raising their prices, in an attempt to justify them, but I’m tapped out. These increases will push me to continue to shop at Hermes, Dior, etc. where the prices are still high, but more in line for luxury products.
It is a different game altogether. Hermes’ model is ingenious to be fair.
Just saw a young lady spend over 40k at Hermes just to finally get a B25 offered.
And she walked out thinking she finally “won” the “game”” lol
I’m loving these price increases and while previously I felt a sense of urgency when my SA would let me know one is coming, I now no longer care. In fact given these bags are everywhere and luxury has become so ubiquitous, I find myself wanting it less. At the end of the day we can’t take these things to the grave and how many flaps are necessary?? I’m finding myself drawn to more unique, interesting designs these days and I’d rather throw my $10k at bitcoin than these “investments.” Au revoir Chanel! But glad you figured out it might be time to invest some effort in quality haha
I have zero interest in Hermes because of “the game” not into some SA deciding if I’m worthy. Chanel is subtle but its very obvious items are held by SAs . Chanel should stop that, its gross. As for investments , nope the secondhand needs to profit. And its that market that created this. I do love Chanel but it was nice to just decide to treat yourself or save fo something and go do it. Now its another source of stress. Seems their profits are up, but ,the pleasure principle down. I have been enjoying my Bottega. You can walk in. play buy or not . no pressure even more enjoyment. I work hard for the occasional item, tired of the pleasure being taken away by these brands trying to be exclusive when really the secondhand market has made that not to be possible, despite what the conjure up
Couldn’t agree more. What a wonderful experience traveling to Paris and coming home with a bag and appreciating the VAT discount on your way out. But now at Hermes you have to spend every evening at 7 PM online trying to score a coveted appointment slot at one of their three boutiques to ”allow” you to purchase what they offer you. I tried for seven days in a row and failed every time between my iPad and iPhone at 6:59pm on the dot. At 7 PM all reservations were taken. I went in the night before I traveled home and explained to the hostess my plight, and for some reason she asked me to step aside and asked if I could wait, and 20 minutes later, the sales associate took me to a counter and offered me one of two bags only. The Evelyne in either taupe or black. Now I am thrilled with the taupe/gold hardware and paid about 60% of what I would’ve paid in the US. But the audacity does not escape me. I have my share of Hermes products. A previous Evelyne bag, Oran sandals, many bracelets and scarves. But definitely not a big spender to be offered a Kelly or Birkin or Constance. Honestly, I found the entire experience exhausting. I went to the Chanel boutique inside Printemps with an appointment I made the day before and that SA was waiting for me with a latte and about 12 bags to choose from. I purchased two, and a pair of sunglasses, and I walked out of there downright giddy. That’s how it should be done.
This! I find Chanel to be ludicrously priced, but the customer service (even with its reputation) is SO much better than Hermes lately. I would buy a really special Chanel bag (especially since I don’t resell anymore, “holding it’s value” is not a concern for me) – I would not bother with Hermes’ games.
As children starve to death all around the world, people glorifying these brands are either indifferent to the human condition or too preoccupied with their sense of self-worth to realize that ONE bag from Chanel could save the lives of dozens of kids. Put your privilege to good use and stop wasting money and resources are these illusions only meant to flatter your egos.
It’s kinda hard to take a person seriously who lurks around a PURSE BLOG so they can try to intimidate the readers who actually want to read about, learn about, and discuss purses. Perhaps you should do your trolling on a different forum or are you just seeking attention? I know you don’t go to movies. go out to dinner, or own a smartphone=right?because that money is surely spent by you on saving starving children. Please tell us what exactly you have done over the past year to reduce world hunger, we are waiting-
Why are you so upset? Pointing out the truth shouldn’t trigger anybody. I am simply highlighting the dichotomy between our love for expensive purses and our need to refocus on what’s much more pressing and important.
Thank goodness we have YOU to tell us what we need to do and what is pressing and important. It’s your big day tomorrow!
Agree. Im sick of being told how to spend. People troll these sites and are baiting people.
I guess you ran out of arguments.
Uhhh, this is a purse blog-let’s keep politics out of it.
That’s ethics, not politics.
I’ve spent thousands going on medical missions, assisting in surgeries with my medical team and helping others because I have the honor and privilege of doing so. I donate hundreds to animal charities. However, I also do not feel the need to spam the world and publicize what I do on social media. Nor do I feel the need to berate other people on what they do with their own money. And you know, on the side, I also buy handbags. What I do is not a justification for what I buy. I do what I want and what is within my limits and it’s as simple as that.
A true superhero. That handbag is well deserved. You saved enough people for one day!
I’m so tired of being purchase shamed. I work hard for my money and I’d like to spend it as I please. There are many people who donate time and money as well as spend money on nice things. It must be so lonely on your pedestal…
The fact that you joyfully admit to valuing handbags over the life and wellbeing of other humans says a lot about you.
There’s always someone who brings up starving children when expensive bags or jewelry purchases are discussed. You have no way of knowing what people give to charity and it’s not your business to scold someone like this. Charity and expensive purchases can exist together. And I (like to) imagine that when one can afford expensive purchases, one is also generous in charitable giving.
I know that kids are still starving so clearly we still spend too much on useless bags. It’s just a fact.
Lets’s turn the table to their parents. Shall we? or to whomever is responsible as to why they were birthed on earth?If those parents are concerned with their children or their future, should they think twice first before they produce a child? It is easy to blame the problem to someone else as oppose to blaming the root of the problem.
This is your logic: “I have $10,000 of disposable income. I give $5,000 to UNICEF, which will feed fifty children for a year. I spend the remaining $5,000 on a Chanel purse because I would rather impress my friends with a bag than save another fifty kids.”
How does one decide that this $10,000 should pay for a handbag rather than save the life of a child? Please, explain.
Your comment here is about a silly as if I went onto your Instagram where you list all your charities, and bragged about a new purse. You do have a charity, right?
Why is that comment silly? They are stating a truth that most of us don’t want to face.
You are also forgetting another fact. You could donate all your money to charity and this problem will still be there. Point is, starving children is not the root of the problem but much deeper. So stop the virtue signaling.
Ah okay… thanks for clarifying. Then, let’s spend it all on handbags and ignore the children since we can’t fix the problem.
Wakeup…have you woken up to the fact that you are on purseblog? How did you find yourself here? Surely, it wasn’t your desire to save starving children’s lives? Cause if you were really any better than us, you would be somewhere actually working to save the children you speak of. Don’t assume you know where our priorities are…toodles!
You make a valid point, but then again what makes you think they don’t also give to charities? Many are very generous with their monetary contributions. We all have guilty pleasure and what’s yours? Surely you don’t just pay your bills and then give the rest to charity, right? Why should the rich be any different? Don’t condone others when you probably do the same, but perhaps on a different monetary level. That’s hypocritical.
The issue becomes when does one decide that they have given enough to feed and house children and that the rest of the money should pay for a bag?
you’re not wrong, but late stage capitalism is too powerful bruh
You are absolutely right, sadly.
You do realise you are on purseblog?
Are you suggesting that when reading Purseblog children suffering ceases at once?
I find if I avoid looking at Chanel online then I don’t miss them. That tells me I don’t need anymore of their bags in my life.
This will be unpopular but I’m almost embarrassed wearing my Chanels for the past several years. Gauche, loud, wannabe – apologies but that’s my take. I much prefer quality understated bags (like my Ferragamo’s, for example). I’m substantially older and have been through decades of luxury buying – trust me, the “it” bag or really any of it just isn’t that important anymore.
At my local Chanel boutique, demand has cooled compared to 1 or 2 years ago and is no longer skyrocketing.
Hermès has been increasing prices quite significantly in recent years too, but for me it still feels more worth the high price tag with the saddle stitching and ability to bring the bag in for repairs decades later. I also like how they gave all their employees a special €4000 bonus for the last couple of extremely profitable years.
Now this is quite annoying. Chanel keeps increasing its prices but decreasing on quality. Obviously Chanel’s trying to be Hermes but the quality sucks! Once you got your classic flop, do you need another one with the same old design but in different color and size? Come on now! IMHO, If I’ll get my 1st Chanel flop bag, I’ll choose the practical SIZE and Color then move on to another brands.
You called it a “flop” bag twice. Was this commentary on their horrible quality a conscious choice or Freudian?
Either way, it gave me a good chuckle!
I felt it was intentional, but who knows?
I’ve got a caviar large Business Affinity and that’s all. Everything else has been sold. What else could I possibly need?
I find the price of Chanel bags insulting. I’m done.
I used to buy these bags for £4-5k, now whenever I have spare £10k+ I redirect myself to Hermes (pre-owned of course but still more exciting prospect) or jewellery store.
Hermes actually plates their hardware with precious metal. They offer lifetime service. Their bags are often hand-stitched. And, in terms of my personal experience with both stores, Hermes was so much friendlier; Chanel is the one that made me feel like I didn’t belong and was wasting their time asking about bags that had waitlists. I only have one H bag (picotin), but love a lot of things there. There’s no comparison; Chanel tries to raise prices to their level while not offering comparible materials, craftsmanship and service.
Chanel compared Hermes? Give it up. Price does not equal quality.
Absurd. A ridiculous amount for a handbag. I’m a bag lover for five decades now, have numerous Chanels (that I haven’t used in years, but that’s another thread), however my opinion is that anyone paying these new prices needs to get their head examined. Put the money instead into money-growing investments. Your older self will greatly thank you.
I will always love Chanel! The quality on the Classic Flaps have been wonderful IMO but less so on seasonal bags. I am certainly glad that I purchased my CF’s a while ago, I did purchase a mini last year. I cannot say for certain if I will purchase another Chanel, I do want a black WOC (mine happens to be pink) and perhaps a camera bag but who knows.
I guess if people keep buying them, they will keep increasing their prices!
I have two Chanel flap bags both black one silver, one gold, one more current, one old. And that’s it. I cannot justify spending that kind of money in this climate. I feel the people at Chanel are tone deaf-they arent ‘reading the room’. Everything is expensive anymore and there is not a lot of disposable income. However, that probably does not apply to people who shop at Chanel. I guess Im just over it all. Im going to look at lesser known brands but with great quality
No matter how hard it tries, Chanel will never be in the category of Hermes (and I’m not even an Hermès fanatic). Between outrageous price hikes, diminished quality, kitsch design and marketing (I’m not saying it’s all bad, just catered to trends and fast fashion), it is damaging the brand in my eyes.
I’ve been a bag lover since I was a tween (before social media drove luxury purchases and skyrocketed handbag status) and always wanted a classic flap. Now I don’t foresee ever owning one and I’m not that sad about it. I’m more sad they have strayed from their lame trying to be something they’re not.
*lane
I am so grateful to be able to drop $ on a Chanel bag whenever I want. But you know why I don’t? I know what the word ‘value’ means and it seems Chanel has never heard of that word.
As other members have mentioned, bring back the original quality, add the gold back in.
The quality is just not there. I will stick with my Ferragamo. I know it is not flashy but that is why I like it. Great quality too.
I love my Ferragamo bags. I have three, all secondhand. Keeps them out of the landfill and is more budget conscious for those of us who need that. I know the craftsmanship is second to none and I don’t have to deal with anyone looking down their nose at me in a shop. I prefer the quiet lux look to flashy 100% of the time anyway!
Easy solution , don’t buy ! They can charge what they want , no one is forcing anyone to purchase their product .
Chanel are out pricing themselves out of the market. There sales are down. They must be mad. Chanel is not Hermes.
Chanel disclosed double-digit increases in financial results over the past few years… In 2023, they posted an increase of 17% for the previous fiscal year. Yes, Pavlovsky explained that 2024 will show smaller growth due to the global economic slow down. Nevertheless, Chanel will be just fine. 🙂
*their
Only 5-7%!!! Come on Chanel, your products are priceless and “inflation” must be eroding that fat margin! Hilarious! As someone else said anyone paying these prices needs a mental competence test. At this point, carrying the “classic” slap makes you a muggers delight or tacky.
I see a lot of stock still sitting in Chanel flagship stores. Like someone posted there’s a slowdown with some of Chanel hot item that’s no longer flying off the shelves. A Sa mentioned to me that they are shipping unsold stock out from the U. S. to international locations. I’m just curious if the average consumer is just saying enough to faux leather at outrageous prices.
I bought my Chanel Maxi, not too many years ago, for $6K. I’ve never used it so recently decided to sell it and FP offered me $4K? Seriously?
Sell it directly rather than going through a third party. You’ll earn more money.
How do you sell a purse directly? Be kind, I am *older*.
eBay offers great protections these days. It’s so much better for luxury sales than it was a few years ago.
Yes, eBay has protections, for which I’m grateful, because I bought a bag and seller “promised it was authentic”, but it wasn’t and I got my money back. However, I’ve also read that eBay buyers charge a bag, then tell their credit card company the charge is fraudulent, and the seller is out the bag and money. Idk, if this is true, but there are too many scams. I’ve also sold to AFF & it takes awhile, but I get back 85% of the sale price, which is a nice profit. I will probably go that route with my Maxi.
Thanks!
So I am hoping that someone might have some idea of whether the Business Affinity will be back?