It’s the question on everyone’s mind. At least for luxury fans seeking the latest Chanel handbags. Are prices going up again? And it’s not unreasonable to wonder. The last price hike on the Classic Chanel Flap in the US was six months ago – in November 2021. By Chanel’s recent standards, that’s a long time for stable prices.
As of today (June 28), at least in the United States, the medium flap price remains at $8800. But in China, for a brief time, the China website listed a 10% hike in the charge for that bag. According to social media there, screenshots showed a new price of 76,560HKD, representing an almost 7,000HKD increase. Converted to US dollars, that’s a $892 hike making the price of the medium flap (in China) $9756.
That’s a pretty big number and a decently hefty increase. But… it went away and prices returned to normal. According to Chanel, it was an error – a computer glitch.
Perhaps it was just premature, an inkling of what is to come. Soon. Even before this incident, rumors of an impending price hike were spreading in China, even supposedly confirmed by one store associate.
Moreover, as we said above, it’s been a relatively long time since Chanel last increased prices on the flap. Perhaps the brand feels more emboldened in light of the recent report by Credit Suisse and Deloitte Luxembourg, tagging the Chanel bags best investments.
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Image credit: wwd.com