Chanel Increases Prices for 2023: Here’s What You Need to Know

How Much More Will You Pay for Chanel? Latest Price Hike Details Inside

Today, Chanel increased its prices for 2023, and we are here to share which bags are affected and by how much. It came as a surprise to absolutely no one, but considering the latest hikes for Chanel bags, it’s hard not to wonder when and if the price increases will see an end.

Chanel 2023 Price Increase Explained

Chanel’s chief financial officer, Philippe Blondiaux, has shared insights into the Chanel price increases. Last summer, he said the brand could implement a price increase “to account for currency fluctuations and inflation.” Moreover, he hasn’t shied away from speaking on the increase in being a part of the brand.

The twice-a-year increase has become something expected by customers over the past years as common practice. When asked about the increase’s reasoning, Blondiaux shared with WWD that “We usually revise our prices twice a year. That’s what we’ve always done and will continue to do.”

In 2022, Chanel maintained the double-digit revenue growth it has accustomed to, even with the closure of stores in Russia and China. However, when looking at the numbers, research analysts for Jefferies shared that the sales uplift the brand has seen could be due to the 21-30% increase in pricing on its bags over the past couple of years versus the overall volume in sales.

Chanel Classic Flap Price Increase
The Chanel Classic Flap is increasing in price by 12-17%, depending on size.

The New Chanel Prices and What is Affected

The increase was steep! Steep enough that the only Classic Flap under $10,000 is the small size, with the Maxi reaching the $11,000 mark now. The Classics were hit with a 16% increase, soaring prices above $10,000 for most. The Coco Handle, Chanel 19, and the Pearl Crush were all given a 14% increase across the board.

This was a global increase, affecting many markets. Below, you can find the new, updated prices of Chanel Bags for 2023.

Classic BagsNew PriceOld Price% IncreaseDelta
Chanel Classic Mini Square Flap Bag$4,700$4,20011.9%$500
Chanel Classic Mini Rectangular Flap Bag$4,900$4,40011.36%$500
Chanel Classic Small Flap Bag$9,600$8,20017%$1,400
Chanel Classic Medium Flap Bag$10,200$8,80016%$1,400
Chanel Classic Jumbo Flap Bag$11,000$9,50015.8%$1,500
Chanel Classic Maxi Flap Bag$11,500$10,00015%$1,500
Chanel Classic Flap Mini Top Handle$5,400$4,80012.5%$600
Chanel Coco Handle Mini$5,400$4,800$60012.5%
Chanel Coco Handle Small$5,900$5,00018%$900
Chanel Coco Handle Medium [*] $5,500  
[*] The Coco Handle is a seasonable handbag currently unavailable in sizes other than the small size.

Chanel Maxi Classic Flap 2010 Price
This Chanel Classic Maxi Flap with an original $3,700 price tag from 2010. This bag now costs $11,700 – over 300% price increase in 13 years.
Reissue BagsNew PriceOld Price% IncreaseDelta
Chanel Reissue Mini Bag$4,900$4,40011.36%$500
Chanel Reissue Regular Bag$10,200$8,80015.91%$1,400
Chanel Reissue Large Bag$11,000$9,50015.79%$1,500
Boy BagsNew PriceOld Price% IncreaseDelta
Chanel Small Boy Flap Bag$6,100$5,40012.96%$700
Chanel Medium Boy Flap Bag$6,600$5,90011.86%$700
Chanel Large Boy Flap Bag$7,000$6,20012.90%$800
Wallet-On-Chain BagsNew PriceOld Price% IncreaseDelta
Chanel Classic WOC Bag$3,350$2,95013.56%$400
Chanel Boy WOC Bag$3,425$3,00014.17%$425
Chanel 19/22 BagsNew PriceOld Price% IncreaseDelta
Chanel 19 Small Bag$6,400$5,70012.28%$700
Chanel 19 Large Bag$6,800$6,3007.94%$500
Chanel 19 Maxi Bag$7,500$6,9008.70%$600
Chanel 22$5,800$5,3009.43%$500

Impact on the Chanel Consumer

The price increases are partly due to Chanel’s desire to become more exclusive. However, the rate at which these bags have increased has turned many off. Customers of the brand have a hard time stomaching, paying nearly $1,000 more for the same bag overnight. Additionally, the frequency and the secrecy of the price increases have some turned off as well.

One user on our forum shared that “When Tiffany’s had a price increase, my SA let me know weeks in advance. I feel like Chanel just wants us to keep spending more. I just can’t help but feel like I’m in an emotionally abusive relationship.”

While other brands also implement increases, Chanel seems to be in a league of its own with the percentage and consistency of increases. Though the brand has worked for worldwide price equality, the new prices put these bags on par with Hermès pricing and as reported by many, out of reach.

Final Thoughts

While many feel negative about the price increase, plenty will begrudgingly pay more for the bags they have been eying and others won’t even bat an eye. Chanel understands its core customers well, one they will confidently retain while reaching new luxury customers.

In-store, plenty of bags are still sold before they ever hit the shelves, letting you know that while these increases are a broadly criticized practice by the brand, it isn’t pricing out its core audience from buying Chanel.


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