As you might already know, Chanel has recently harmonized their bag prices (to be exact, after 8th April 2015), and that means:
– Prices in United States and United Kingdom remain the same
– Prices in Asia have decreased dramatically
– Prices in Europe have increased
For now, the price increases only affect the iconic handbags like the Classic Flap Bags, Reissue 2.55 Bags and the Boy Bags. However, Chanel plants to harmonize all their accessories by the end of 2015, yikes!
READ: Chanel Worldwide Price Changes 2015
To check out the latest price increases, go to: Chanel Bags Prices.
Now the most important subject of this post – the big question that we’ve received so-often is: ‘Now that Chanel has increased prices in Europe, will it still be cheaper to shop there?’
Great question!
Let’s do some calculation shall we?
Comparing the Chanel M/L Classic Flap Bag prices in United States and Europe (after price increase)
The Chanel Medium/Large Classic Flap Bag is currently retailing for $4900 USD in United States. That’s a heavy price tag, let’s compare that to Europe.
Well in Europe, after price increase, the Chanel M/L Classic Flap Bag is now priced at €4260 euro. Seems huge right?
If you’re a non-EU citizen, you are eligible for tax-refund. That is around 13 percent in Italy. The new price after tax-refund will be €3706 euro. Now let’s convert that into USD (as per today’s currency exchange) – $4089 USD.
The answer?
Yes, it’s cheaper. To be exact, it’s $640 USD cheaper.
Comparing the Chanel M/L Classic Flap Bag prices in United States and Europe (before the price increase)
Okay, now I am curious. I want to know this: ‘How much cheaper is the Chanel M/L Classic Flap Bag in Europe before the price increase, before 8th April 2015?’.
You want to know too?
I guess so!
Before 8th April 2015, the Chanel M/L Classic Flap Bag in the United States was priced at $4900 USD.
Before 8th April 2015, the Chanel M/L Classic Flap Bag in Europe was priced at €3550 euro before tax-refund. So after the tax-refund, the new price was: €3088 euro. Convert that into USD (as per today’s currency exchange), which will be $3358 USD.
Ohhh my…
You would be $1350 USD cheaper before the price increase.
Comparing the Chanel M/L Classic Flap Bag prices in Singapore and Europe (after the price increase)
Is it still worth for Singapore citizen to travel to Europe and purchase a Chanel bag?
The Chanel Medium/Large Classic Flap Bag is today retailing for $6660 SGD in the Singapore. That’s a price decrease; shall we be happy about that?
The new price in Europe for the Chanel Medium/Large Classic Flap Bag is now €4260 euro, after 13 percent tax-refund in Italy will be €3706 euro. Now convert that to SGD (as per today’s currency exchange) – $5372 SGD.
You will still be cheaper, in fact it’s $1288 SGD less expensive.
Comparing the Chanel M/L Classic Flap Bag prices in Singapore and Europe (before the price increase)
Don’t be happy yet.
The big question still needs to be answered, and that is…
Are you better off or not? Was it cheaper before the price increase to purchase a Chanel bag in Europe if you were a Singapore citizen?
Let’s get the answer:
Before 8th April 2015, the Chanel M/L Classic Flap Bag in Singapore was priced at $7550 SGD. That’s pricey!
Before 8th April 2015, the Chanel M/L Classic Flap Bag in Europe was priced at €3550 euro before tax-refund. So after the tax-refund, the new price was: €3088 euro. Convert that into SGD (as per March 2015 currency) and you will get $4476 SGD.
The difference?
You would save $3074 SGD.
That means – if Chanel did nothing, the price gap between Singapore/United States and Europe would be huge, the value of your bag would be larger.
But obviously, the harmonizing of prices was necessary because the value of Euro was dropping.
We did a small experiment by comparing the M/L Classic Flap Bag with two countries, but the results also represent all sizes of the Classic Flap Bags, Reissue 2.55 and the classic Boy Bags.
Now that you know the conclusion, let us know what you think?
I wasn’t sure where to ask this question, so I will just ask here! I am wondering about the new Medium size of the boy bag…to anyone who owns it, do you find the size comfortable for everyday wear? I really want a Boy Bag, but I’m a bit hesitant because of the size increase. I was told that I may be able to find the old medium size at a department store, so I just want to have a better idea before going ahead with the purchase – any advice would be appreciated!
Hi Marni, there is no old or new boy bag. The new boy is called the Medium Plus. The old (what everone is referring to) is the Medium Boy Bag. Both are available in store. The Medium Plus is bigger in size, I think the normal medium will suit you better, have you checked with the boutique?
Hi Cynthia, thank you so much for your reply 🙂
I have checked with a few boutiques in Canada, and no such luck finding the Medium 🙁 I may be taking a trip to the states so that could be an option, but I would prefer to find it in Canada. Any suggestions?
Hi Marni,
Have you asked the SA to reserve this bag for you? Or to put you on the waiting list, it’s possible!
This is great! Would it be possible to do this comparison with the Boy Bag? 🙂