May 11, 2020 Update. The European markets released their new prices today, we rounded up the prices for popular Chanel styles on the Chanel Price Increase 2020 page.
On the heels of the Louis Vuitton price increase for 2020, some members of PurseForum with longterm existing relationships with their sales associates have heard Chanel may be facing another price increase as well. The rumor is that Chanel prices will go up as early as this weekend and will be impacting the Classics (including Boy Bags and Chanel 19 bags) as well as Ready to Wear. As of now, this is an increase set to effect the European market (with only our European posters having any intel). As European stores begin to open back up, the price increase will happen for them first. However, typically other markets follow soon after, with world-wide prices catching up to the new prices.
The rumor states that many items will be hit with a very steep increase. How steep?
Some people claim 17%, but others say they’ve heard 11%, and just today someone shared rumored new prices that would increase by far more! One poster commented this morning that his sales associate shared the price increase will happen in Germany this Saturday, May 10th, and said the Chanel Mini Flap will go from 3050€ to 4050€ and the So Black M/L Flap from 5650€ to 6640€. That’s a far higher increase than 17%, in fact it’s 35%, and I truly am baffled if this would be the case.
Typically, sales associates are informed of price increases sometimes very close to (or even on the day of), so leading up to the increase the rumors spin wildly until the actual new prices are released. The last Chanel Price increase was in November of 2019 and that increase was felt more in the European market with an average of 7-9%, while the US market saw a 2-4% raise.
People are feeling incredibly frustrated over the possibility of a looming price hike which will hit as Chanel stores begin to reopen to the public, and some find it in poor taste during this pandemic while many are suffering financially.
While we have all been impacted personally in our own ways, it’s important to note that Chanel has closed its stores and turned production facilities over to create protective face masks and medical gowns. Its stores have been closed worldwide and Chanel does not sell the bulk of its leather goods online, so this leaves very little product being sold over the past 3 months. On top of that, and the most important fact to highlight, is that Chanel opted out of the French Government’s partial unemployment assistance. Rather, Chanel decided as a company to fund the salaries of its employees out of its own pocket. The company said in a statement “Our aim is not to weigh on the public accounts so the French state can prioritize help to the most vulnerable companies, and focus its resources on the health system and its doctors and nurses.” It’s said the same is true for its US-based employees.
The repercussions of this global pandemic will undeniably effect a majority of businesses in different ways. With factories transformed to make masks and gowns, stores closed with employees home still being paid, and no selling of major items online, Chanel will need to recoup and recover in some way, and this may be a part of that plan. The trickle-down effect of what has happened will be felt far and wide, and every business will be looking to find ways to recover. We’ll keep you posted on what we find out regarding this price increase as it unfolds.
If you want to follow along with the intel of PurseForum members, this is our Chanel Price Increase thread.
They are increasing the prices meanwhile no one can buy them anyway because the stores are closed LOL. I’m sure like many I’ve barely used my bags this year. Strongly makes me reconsider ever buying another if this is the new normal….
I work at Neiman’s and we’ve been selling Chanel remotely from home during the entire quarantine
May I ask how it could be done please? I had asked my Neiman associate to ring a bag for me but she could not find way to do it for the past two months. Thanks.
Diva still has a great point here. The vast majority of people do not have the personal contact info of a seller to help them buy nor haven’t considered searching for someone. A price hike during this time is laughable.
Some stores in Europe have opened back up, more slated to this week. I think that’s why the supposed increase will effect European market first.
I have never commented on any of their previous price increases and Chanel is by far my favorite brand, but doing this at this time should result in them being boycotted, as it is completely unacceptable considering they already had a price increase less than six months ago.
Completely agree this is tone deaf and if true I hope consumers take their business elsewhere!
I agree that it sucks for us buyers but the reality is many big companies are having to file for bankruptcy (eg Neiman Marcus). Chanel has high costs on a large scale (stores, factories, advertising, paying employees, models and photographers, many others I can’t think of) so even though they are a huge brand this is likely what they need to do to stay afloat 🙁
I think as far as price increases go, if this one winds up being the percent some have heard, there are truly going to be a lot of customers who will no longer purchase from the brand or at least rethink doing so
I totally agree. The more design houses increase their prices the more people take inventory of their finances and what they are willing to pay for a bag. Chanel can increase their prices, but I’m willing to bet this will push some consumers to explore other brands.
I’m 100% SURE they’re going to use factories pivoting to produce masks and paying some employees to “reason” the price hikes. Plus, the factories are making less bags so there are less “in-stock,” “available,” or they’re becoming “rare.” Meanwhile, that ISN’T TRUE because stores are closed, they don’t have e-comm for items other than eyewear and costume pieces. What a joke.
My hard-earned money isn’t going to spent on Chanel’s thin leather and cardboard bags.
So when they need more money to do altruistic things, they come to their customers to support them. What about when they are turning absurd profits? Do they give back to us?
I’m sure they will increase their price. In France’s Chanel website, they have already hidden the prices of ALL the bags !!
Usually means they’re gearing up for the price hike
Same here in Sweden. They all say “Price upon request” now.
The price increase is expected to happen in the US too. SAs in the US have confirmed that it will happen, with conflicting news about whether it’ll happen on the 11th or the 15th.
Ya, I assume they will have to have a price increase here as well. Brands have worked to level out prices worldwide purposefully
Well, definitely will not be purchasing any of their bags. Increase for what purpose. Have they added any value to the bags?
If the price increase is the 17% that has been rumored, I do think this price increase will truly have an impact on people buying. A 2-4% increase, while frustrating, does not make an impact on the level of 17%.
Even though Chanel is cancelled in my book, they could have chosen better timing…. I wonder if this pandemic will change the way we buy luxury goods? Will we buy less, quality over quantity or go back to our old ways as humans do, we tend to forget fast:)
I’m probably going to cull my collection soon and keep only those I really love and use. And yes, quality over quantity is my new mantra.
Can we all just stop buying Chanel bags? I got one bag from them and it doesn’t even have a good quality. YSL and Valentino Garavani’s lambskin is more durable than Chanel’s. I get the feeling that people buy these bags only for status symbol now because the quality is not even that great.
The brand IMHO went aspirational luxury over exclusive status years ago. To me everything looks tacky, cheap and basic. Mass production = ownership en masse so…
I’ve purchased enough Chanel to know that their quality, customer service, etc. has dramatically declined. Let them raise their prices because it won’t affect me since I’m done with Chanel.
My sentiments as well. Some of the products have laughably poor construction since the mid-2000s, and it’s especially evident compared to items made during the ’90s, ’80s and earlier. I keep buying pre-loved ones to see whether I’ll change my mind, and in most cases, it’s a no-go, particularly for the price points. I’ve also found lower quality in some Louis Vuitton products (especially the canvas) in the last year or so as well, and wondering whether the opening of more U.S. factories, plus ramped-up demand online during this pandemic, account for part of that decline??
Unpopular opinion but I’m glad they’re jacking prices. It’s a good as discontinuing to sell, but but the added bonus that they’ll continue to market and sell the allure/exclusivity of the brand. That way Chanel will still be valuable and the resale market will do well
If anything, no longer dealing with as much competition from people who’d rather just buy brand new will help us all sell our older bags and buy others we’d rather try.. and I can go buy an older one at a steal of a deal and it’ll be better quality than the new stuff but I can ride the wave of admiration of the brand 🙂
They are already the price of a car, soon they will be the price of a house smh. I have LV and Gucci but Chanel has always been my aspirational bag, it just feels like I am chasing something that is always a few steps ahead and I don’t even know if I want it anymore. I guess they want to sell exclusively to the people who can put that type of money down without blinking an eye and keep people like me out (who have to save for it) and that is fine, just a bit of a bummer.
I love handbags.
But, I believe that this pandemic has forced us to refocus on what is really important in life. I think many are learning to live a more minimal life where we enjoy simple pleasures like friend and family contact. Also, given all the financial hardship that many are facing, it highlights the need to reinforce one’s own financial situation and the plight of the less fortunate. Even if I can afford and love the bag, should I be spending like this? There has to be a limit to how much we will spend on a bag before it becomes absolutely ridiculous.
Not only is this distasteful considering the pandemic, but it seems like not a very smart business move as we are likely heading into a global depression, where people are going to be cutting back on discretionary spending…
Heard from my SA that Singapore will see the price increases from 15 May. Guess it’ll prob happen in Asia too
Unpopular opinion here, while I understand that there are people who are financially struggling at this time, that’s not the typical Chanel clientele correct? They cater to the wealthy and those who can afford their product lines without feeling the decline in their bank accounts. Good for Chanel for continuing to pay their employees salaries and not taking money from their government so that those dollars can go to the people who need it and qualify for help – for those are the people who need it the most. If I remember my history correctly, the brands that were able to remain stable during the great depression were the likes of Louis Vuitton and Chanel – because their client base could *really* afford them.
I’ m sure the logic behind this increase, is that their loyal customer is not, and will not be affected by this pandemic, they are the 3% off the wealthiest people in the world. So that increase is going to be nothing. If you’re complaining about an increase, it’s very likely you shouldn’t be in a Chanel store to begin with. And yes, I know some wealthy people may be turned off by the increase and they’ll just head over to Hermes?????
They have some nerve puling this stunt now.
The brand is already ridiculously overpriced and quality has declined.
As for them producing PCP products and closing their stores…they are in the same boat as everyone else and I for one don’t feel any altruistic impulse to help out Poor Old Chanel during their pandemic struggle by paying even more for their bags and clothing. This is really tone deaf and out of touch. No way I’d ever buy Chanel new at the best of times, and certainly not when people are going hungry and losing their livelihoods.