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How much is a Chanel Reissue or Flap boy going to cost in 2016?
Looking back, many things have happened for Chanel in 2015. Good news for some while bad news for others as we see Chanel harmonising their prices worldwide. Due to this price harmonisation exercise, we see an increase and decrease of their prices worldwide.
Take for example, if you are buying a Chanel Boy Medium in Singapore, it would have cost you SGD$6850 previously but now it would have cost you SGD$5,820. A Classic Flaps like the 11.12 and 2.55 that cost SGD$7,550 previously but now only cost SGD$6,660. Great news if you are shopping for Chanel in Singapore.
Prices for Chanel in Hong Kong have also decreased by almost 20% this year, a small Boy Chanel which is previously retailing at HK37,000 is now selling for HKD29,700. This decrease is also happening in China where a standard 2.55 has dropped to ¥29,800 in Shanghai. Prices for Chanel Boy Bag, 11.12 Flap Bag and Classic Flap Bag have also fallen from ¥32,700 to ¥26,000.
Not so good news if you are shopping for Chanel in Europe where we see a price hike. Once the news is out in the market, all the purses were sold in Chanel retail outlets in Paris. Following summarize some of the prices increase for Chanel in Europe.
- Chanel extra mini classic flap ( A69900) has also increased from €2020 to €2490.
- Chanel Mini Classic Flap Bag (A35200) increased from €1,790 to €2,250.
- Chanel Small Classic Flap Bag (A0113) increase from €3400 to €4100
- Chanel Medium/Large Classic Flap Bag (A01112) increase from €3550 to €4260
- Chanel Jumbo Classic Flap Bag increase from €3950 to €4750
- Chanel Maxi Classic Flap Bag increase from €4300 to €5160
- Chanel Reissue 2.55 Size 224 increase from €3400 to €4100
- Chanel Reissue 2.55 size 225(A37586) increase from €3550 to €4260
- Chanel Reissue 2.55 size 226 (A37587) increase from €3950 to €4750
- Chanel Reissue 2.55 size 227 (A37590) increase from €4300 to €5160
- Chanel GST/Grand Shopping Tote (A50995) increase from €1950 to €2700
- Chanel Medium Boy Quilted Flap Bag (A92105/A92267) increase from €3100 to €3720
Now so good news as well if you are buying in UK, we see an increase in prices where a Chanel extra mini classic flap (Style code: A65050) which is previously retailed for £1430 is now selling for £1650. This also apply for other Chanel purses.
How about other parts of the world
- Australia – Prices have dropped
- Japan – More or less the same.
- South Korea – Slight increase
- USA – Stay the same
So what is going to happen in 2016?
Before we dive into that answer, let look at how much Chanel purses’ prices have changed through this year. Let take Chanel Small and Medium Flap Bag as a reference. Following are prices are quoted in USD and prices in USA.
|Chanel Small Boy Flap Bag||2600||3700||4000||4300|
|Chanel Medium Boy Flap Bag||3200||3900||4200||4700|
As reflected in the table above, the prices for Chanel Small has increased from USD$2600 to USD$4300 and Medium flap has increased from USD$3200 to USD$4700. That is a wholly 40% increase for Chanel Small Boy Flap bag and 30% for Chanel Medium Boy Flap.
Will there be a price increase for Chanel bags in 2016?
Yes, we are confident that price is likely to increase in 2016
Why is Chanel increasing their prices?
A theory that holds for most luxury brand is higher prices increase desirability and hopefully helps to drive sales. There is a double blade for this theory as a higher-price tag also carry the risks of losing customers who cannot or do not want to pay more especially in this uncertain economy.One thing certain is Wage and material costs have increased. For luxury brand to maintain profitability, increasing their handbag prices is inevitable.
Based on the trend, currency fluctuation and economic situation in Europe , we still feel there will be a 5 to 10% increment for 2016 depending where you buying from but a further price harmonization is unlikely.