Credits: Social Media
Chanel’s rumored 2024 price increase sparks anger with Classic Flap costing crazy amount
Rumors are swirling online about Chanel’s 2024 price increase and the alleged new figures have left everyone in disbelief.
They haven’t been confirmed by the luxury fashion house, but Chanel usually increase the cost of their best-selling bags twice a year.
Chanel’s rumored 2024 price increase
A post shared on Instagram by a designer reseller called Caviar and Chevre claims the 2024 Chanel price increase is as follows for the Classic Flap bag:
- Small Classic Flap: $9,600 to $11,240
- Medium Classic Flap: $10,200 to $11,850
- Jumbo Classic Flap: $11,000 to $12,750
In an interview with Bloomberg, Chanel’s brand’s Chief Financial Officer Philippe Blondiaux said price increases usually occur in March and September, and there can be extra ones in line with inflation.
The Classic Flap is Chanel’s most famous bag, featuring quilted leather, a chain strap and the famous CC logo on the front.
Alleged figures leave people furious
A screenshot of the alleged prices was shared in a Chanel thread on Reddit, where people are furious at the stark increase.
Many are threatening to switch to Herm�s instead, a French luxury designer which is famous for the Birkin and Kelly bags.
One person wrote: “Hahaha, these prices are so stupid!! I bought a Jumbo in 2008 for $2,800 and they are now $10,000 more? What world is Chanel living in that these prices make sense?”
“This is so insane. Herm�s prices with subpar quality,” said another.
A third person added: “I bought my first medium CF in 2017 for $4900, and it was outrageous then. This is a joke. Ive shifted to only buying seasonal and now and even rethinking that.”
“They need to focus on quality before they continue to price increase. This is a big reason why I just cant justify Chanel prices anymore,” someone else wrote.
Another said: “Ludicrous, theyre pricing out their best buyers, and driving them to buy off market. This will have an opposite effect on their market.”
Classic Flap price increase history
The Medium Classic Flap has doubled in price over the last five years:
- 2019: $5,800
- 2020: $6,500
- 2021: $7,800
- 2021: $8,800
- 2022: $10,200
- 2023: $10,400
These increases come as Chanel strives to become more exclusive, but people think the quality of the bags no longer matches the stark price tag.
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