Chanel’s round of global price increases in the midst of the coronavirus pandemic took us all by surprise. Raising prices 5-15% in the US and 10-20% across Europe, even in a normal year would have been unexpected, let alone this one. It has of course resulted in Chanel reaching closer to its desired goal of global price harmonization. For Chanel, it’s also a way to cushion the top line in a year against plummeting sales revenues.
If you’ve been scouting for Chanel buying opportunities at old prices, you may have noticed that prices of some styles remained unchanged. At least until now. For example, the Coco Handle (a top flap bag with handle and strap) was not affected by the May 2020 increases. Now, however, Chanel looks to be raising prices for at least some of the previously safe models. Specifically, just this week, the price of the medium Coco Handle rose to £3350 ($4436 ). In the United States, that same bag is $4000. The price of the small Coco Handle is now £3120 ($4132) and here it still retails for $3700 according to the US website.
Stay tuned for more information on Chanel handbag price increases.
Source: Photo Credit and latest prices from Chanel.com