CHANEL is set to raise prices in March 2024 with an expected 15% increase

CHANEL Classic Flap

2nd March 2024 – (Hong Kong) CHANEL, the luxury fashion brand is reportedly set to raise its prices for the first time this year in March, with an anticipated increase of around 15%. Following last year’s mid-year price adjustment in 2023, this upcoming price hike is in line with CHANEL’s Chief Financial Officer (CFO) Philippe Blondiaux’s previous statements that price adjustments are determined by two main factors: rising costs and currency fluctuations. CHANEL has traditionally adjusted its prices twice a year, in March and September. With rumours circulating about the impending price increase, fashion enthusiasts are advised to make their purchases sooner rather than later.

One of the most sought-after handbag styles from CHANEL is the Classic Flap, which is considered the epitome of the brand’s timeless elegance. During last year’s price adjustment in March, the Classic Flap saw the highest increase at a staggering 13%, resulting in a nearly HK$10,000 price hike. It is expected that this iconic handbag will make an appearance in the upcoming price adjustment as well. The Classic Flap features the brand’s signature quilted pattern, coupled with a chain strap and the iconic double-C logo clasp, showcasing CHANEL’s luxurious aesthetic. It has been released in various colours and materials, all of which are highly coveted by women.

The prices for the CHANEL Classic Flap are as follows:

  • Mini Flap Bag: HK$36,400
  • Small Flap Bag: HK$75,200
  • Classic Flap Bag: HK$78,500

Another notable handbag style is the CHANEL 22 Handbag, which was introduced in 2022 and quickly gained popularity among celebrities and fashion influencers. It has the potential to become one of the handbags affected by the price increase. The CHANEL 22 Handbag features the brand’s classic quilted stitching leather, accompanied by the CHANEL metal logo, chain strap, and “CHANEL Paris” tag, exuding casual elegance.

The prices for the CHANEL 22 Handbag are as follows:

  • Mini 22 Bag: HK$40,000
  • 22 Bag: HK$46,900
  • Large 22 Bag: HK$50,600

The CHANEL 2.55 Handbag holds a special place in the brand’s history, as it was the first handbag personally designed by Coco Chanel in February 1955. It has remained an irreplaceable classic and is considered a valuable investment. Inspired by the saddle pattern, Coco Chanel created the iconic quilted design, which has become a trademark of the brand. Many handbags have drawn inspiration from or been developed based on the 2.55 Handbag, solidifying its status as a brand icon.

The prices for the CHANEL 2.55 Handbag are as follows:

  • Mini 2.55 Bag: HK$38,000
  • Classic 2.55 Bag: HK$78,500

For those who appreciate a more gender-neutral and contemporary style, the BOY CHANEL Handbag is irresistible. With its sleek rectangular shape and full flap design, featuring the brand’s signature quilted pattern and contrasting leather trim, along with a chunky chain strap, the BOY CHANEL Handbag exudes a distinctive and edgy vibe.

The prices for the BOY CHANEL Handbag are as follows:

  • Small BOY CHANEL Bag: HK$46,500
  • Medium BOY CHANEL Bag: HK$51,400
  • Large BOY CHANEL Bag: HK$54,200

The CHANEL 19 Handbag is the final collaboration between the late Karl Lagerfeld and the brand’s Artistic Director, Virginie Viard. Its name, “19,” represents both the year of its release and Coco Chanel’s birthday on August 19th, making it a significant number for the brand. The CHANEL 19 showcases enlarged versions of the brand’s classic elements, such as the iconic quilted pattern and double-C logo, exuding a sense of grandeur. With a relatively affordable price range, the CHANEL 19 Handbag offers both potential appreciation and value retention, making it a popular choice for many.

The prices for the CHANEL 19 Handbag are as follows:

  • CHANEL 19 Bag: HK$49,300
  • Large CHANEL 19 Bag: HK$54,200
  • Extra Large CHANEL 19 Bag: HK$59,400

Chanel 19 bag