Chanel Classic Flap Price Increase – Is It Worth Buying?

Chanel Classic Flap Price Increase – Is It Worth Buying?

It has probably not gone unnoticed that the price of Chanel handbags, especially the Classic Flap has increased significantly during the past years. We’ve gathered necessary information about the price increase. 

Reviews prices twice a year

Twice a year, in March and September, Chanel reviews their prices. In march this year Chief Financial Officer Philippe Blondinaux announced an average 8% price increase world-wide. According to Blondinaux, a yearly price increase is something that they’ve always done and will continue doing. The price increase in 2023 is due to account for currency fluctuations and inflation.

Why price increase?

Let’s talk about why a brand like Chanel decides to increase their prices. One of the reasons is of course Inflation and Cost of Materials. Chanel, like other luxury brands, faces rising costs for raw materials, production, and labor. Increases in the cost of materials and manufacturing can contribute to price adjustments to maintain profitability.
Another reasons is Exchange Rates. Chanel is an international brand, and fluctuations in currency exchange rates can impact pricing. If the currency of production or the target market weakens against other currencies, Chanel may adjust prices to mitigate potential losses or maintain profit margins.

It’s also about Demand and Supply. Chanel’s pricing strategy also considers demand and supply dynamics. If a particular product or style becomes highly sought after, the brand may increase its price to reflect its desirability and exclusivity. Last but not least, Brand Value and Prestige. Chanel is known for its prestigious heritage, craftsmanship, and iconic status. The brand’s strong reputation and perceived value allow it to command premium prices.

$10,200 for a Chanel bag – is it worth it? 

The price in June 2023 is $10,200

The question: is a Chanel bag still a good investment? If you ask us, buying a new Chanel bag from the store is not a good investment. Why? Because you will never get all of your money back. We would rather recommend you buying pre-loved Chanel bags. You’ll save money, it’s sustainable and you have the chance to find unique pieces. Discover our collection of CHANEL Bags here.