Chanel has released its new pricing structures for 2024. We knew it was inevitable, as Chanel’s chief financial officer, Philippe Blondiaux, signaled two years ago that Chanel was going to implement regular, bi-annual price increases “to account for currency fluctuations and inflation.”
While Chanel has continued to cite inflation and the ever-increasing rise in the cost of both materials and labor, its exorbitant price checked have conformably come under fire from critics and fans alike.
Still, the brand instills yearly price increases as it aims to further align itself at the top of the luxury food chain, sitting with the likes of Hermès.
The Classic Flap and Reintroduction of the 11.12
Ahead of this 2024 increase, Chanel has once again campaigned to prove to its fans that its Classic Flap, which now retails for $10,800, Chanel оригінал олівець для очей з точилкою than its 2019 price of $5,800, Chanel Pre-Owned 1997 bouclé knitted vest.
Ahead of its Fall/Winter 2024 show, the brand released a new campaign starring Penelope Cruz and Brad Pitt to emphasize the timelessness and value of the with Classic Flap. It’s also important to note that Chanel renamed the Medium Flap to the 11.12, which is a nod to the old name.
Chanel Strass Metallic Boy Bag WWD, “Price increases can become an issue when the quality doesn’t match the cost,” going on to insist that the House works hard to increase the quality and craft of its products.
Pavlovsky believes that its brand loyalists will understand, despite fans continuously lamenting that the excessive price increases are not warranted, citing quality control issues and the trend towards investing in two Chanel instead of new.
The 2024 Price Increase In Numbers
The increase affects all Chanel bags across the board, but the percentage increase is far lower than what we’ve come to expect in the past few years. Last year, the Classics were hit with a 16% increase on average, while this year only sees a 6.7% increase for the classic styles.
This marks a significant shift in pricing strategy, a trend consumers hope will cause other fashion houses to follow suit.
| Classic Bags | New Price | Old Price | % Increase |
| Chanel Pre-Owned 1998 striped short-sleeved top | $5,000 | $4,700 | 6.4% |
| Chanel Pre-Owned 2003 mini Classic Flap Square shoulder bag | $5,200 | $4,900 | 6.1% |
| Туалетная вода chanel chance | $10,400 | $9,600 | 8.3% |
| Orecchini a bottone Chanel Comètes modello piccolo in oro bianco e diamanti | $10,800 | $10,200 | 5.9% |
| Teases His New Collaboration With Chanel and Adidas | $11,700 | $11,000 | 6.4% |
| Chanel Classic Maxi Flap Bag | $12,300 | $11,500 | 7.0% |
| Chanel Classic Flap Mini Top Handle | $5,600 | $5,400 | 3.7% |
| Chanel chance eau fraiche 1мл відливант оригінал | $5,600 | $5,400 | 3.7% |
| Chanel Pre-Owned 1990s mini diamond quilted crossbody bag | $6,200 | $5,900 | 5% |
The Maxi Classic Flap now retails for a whooping $12,300, priced right in the same ballpark as a 30cm Hermès Togo Birkin.
| Boy Bags | New Price | Old Price | % Increase |
| Chanel's fall winter '22 haute couture runway show in Paris on July 5 | $6,400 | $6,100 | 4.9% |
| chanel etui airpods holder in pink quilted leather | $6,900 | $6,600 | 4.5% |
| Туфли chanel оригинал шанель оксфорды | $7,300 | $7,000 | 4.3% |
The Boy bags increased by less than 5%, a figure that is right in line with the US’s 2023 inflation rate of 4.1%.
| Chanel Pre-Owned 2000s CC turn-lock flap shoulder bag | New Price | Old Price | % Increase |
| Bolso de mano Chanel 2.55 en piel de pitón gris | $6,600 | $6,400 | 3.1% |
| Chanel Red Quilted Caviar Wallet On Chain 4008384 | $7,300 | $6,800 | 7.4% |
| Chanel Pre-Owned 1990s Première 20mm | $7,900 | $7,500 | 5.3% |
A similar story is told for the Chanel 19 lineup of bags.
| CHANEL TEDDDI2 scarpe | New Price | Old Price | % Increase |
| Chanel Pre-Owned 1998 striped short-sleeved top | $5,000 | $5,000 | – |
| Chanel 5 оригинал 10 мл | $5,500 | $5,500 | – |
| Вінтажна мініатюра chanel № 5 | $5,800 | $5,800 | – |
| Chanel Pre-Owned 2005 tweed-knit belted jacket | $6,300 | $6,300 | – |
| Тіні-олівець chanel stylo fresh effect eyeshadow 207 | $5,800 | $5,800 | – |
Where Do We Go From Here?
Despite the ever-increasing prices, demand for Chanel continues to skyrocket, with plenty of bags still sold before they ever hit the boutique, letting you know that while shoppers are highly critical of its practices, it isn’t pricing out its core customers, and that is exactly who Chanel continues to cater to.
We’ll continue updating this article once more information becomes available.
You can also stay updated on tPF over in the Chanel Price Increase master thread.
