Chanel raises the price of its handbags by more than 60%

Since 2019, Chanel has been raising the price of some of its most classic handbags. In the wake of the pandemic, the numbers have been steadily increasing in the United States. 

This price increase is due to “unspecified exchange rate fluctuations, changes in production costs and to ensure that its bags cost more or less the same around the world”. However, some senior figures within the industry say it is an “aggressive corporate strategy; asserting control over one of the brand’s most popular products and targeting high-end rivals”.

The price of Chanel‘s iconic classic flap bag has increased by 60%, reaching a price of $8,200. The 2.55 model reaches stratospheric figures of $9,500, 78% more than in June 2021.

As Charles Gorra, CEO of Rebag, says, Chanel aims to position itself at the highest level of luxury fashion, just like Hermès bags. The price increase makes the brand even more exclusive, leading to a stronger desire for the products. This is complemented by the fashion house’s decision to impose purchase limits.