CHANEL NOVEMBER 2021 PRICE INCREASE

Chanel’s third price increase of 2021

It’s official. On November 3rd, Chanel increased its prices for the third time in 2021 – the first time being in January, followed by an increase on Classic Flaps, Boy Bags, the Chanel 19, and the Classic Wallet on Chain in July. 

Classic Flaps, 2.55 Reissues, and the Wallet on Chain versions of both styles are affected during this round of price increase.

Will Chanel bags soon be as exclusive as the Hermes Birkin or Kelly?

Although Chanel’s annual price hikes are well-expected and anticipated at this point, the current frequency at which the house is increasing the prices of its highly coveted bags is unprecedented. At the current rate at which prices are increasing, it’ll come as no surprise to us and to all Chanel fans that the luxury house’s classic bags will soon rival the prestige level of Hermes and its famously exclusive Birkin. 

Reportedly a strategy to make up for the decrease in sales due to the pandemic, Chanel may also be trying to retain exclusivity by limiting accessibility – which all ultimately drives further demand. We all know that feeling – the heart wants what it can’t have.

What this means for the resale market

What Chanel’s significant retail price increase also means, is that more people are going to seek out preloved Chanel bags in the resale market. So if you’re the proud owner of a Chanel handbag, especially a timeless classic like the Classic Flap, you’d be thrilled to know that it’s a great time to consign your item now due to the high demand.

And for those of you looking to purchase a Chanel bag, it’s also more cost-effective to look for one in the secondhand market. Not only will you find pieces that are rare and hard to find in boutiques, you’ll also get them for less than retail prices. 

Chanel price changes (updated: November 2021)

Here are how the retail prices of Chanel’s classic flaps compare to Bag Religion’s prices after the November 3rd price increase.

Take a look below at the table for the price changes that Chanel has implemented on November 3rd, 2021.

Style

% Increase

Old Price

New Price (November 2021)

Classic Flap Small

14.5%

8,775 CAD

10,050 CAD

Classic Flap Medium

12.3%

9,550 CAD

10,725 CAD

Classic Flap Jumbo

11.9%

10,325 CAD

11,550 CAD

Classic Flap Maxi

11.4%

11,000 CAD

12,250 CAD