As of August 9th, Chanel increased their prices in Europe to reflect the change in the euro. The euro is officially equivalent to the US dollar, meaning 1$ euro = 1 USD. What does this mean for European bag enthusiasts? Well, a Chanel Classic Flap has a 9% increase. For our US/Canadian bag enthusiasts, we will no longer be saving flying to Europe due to the price difference. It has since been rumoured that Louis Vuitton will also increase their prices following the parity of the euro. Europeans will experience more of an impact due to inflation in their nation and the decline of the euro. This is Chanel’s second price increase in Europe in a 6 month span. Their last increase was March 1st, 2022.
Before shopping in Europe saves money for tourists, let’s do some quick bag maths.
- Medium Chanel Classic Flap: 8250 Euro
- VAT: 13%
- Refund: 1072.50
Actual Cost: 7177.50 euro
- Medium Chanel Classic Flap: 8800
- Tax: 9.5% = $836
Actual Cost: 9363
At the time of this purchase euro was equal to USD, meaning its total savings of $2458.50.
Here are the confirmed new prices:
Classic flap small 7750€ – after increase 8450€
Classic flap medium 8250€ – after increase 8990€
Classic flap jumbo 8900€ – after increase 9700€
Prices are expected to increase 5% on all other leather categories and RTW, shoes etc.
Bag Enthuaists, what do you think of yet another Chanel price increase?