Classic Bag Price Rises to 18.8 Million Won... Chanel Raises Prices for the Fifth Time This Year [Luxury Price Story]
- Input
- 2026-07-14 13:45:57
- Updated
- 2026-07-14 13:45:57
[Financial News] French luxury brand Chanel posted record sales of more than 200 billion won in South Korea last year, marking its best-ever performance, and has now carried out its fifth price increase this year.
Chanel raises bag prices by 5% to 6%
According to Newsis on the 14th, Chanel raised the prices of major bag products in South Korea by an average of about 5% starting that day.
With this increase, the flagship 'Classic Flap Bag Medium' rose from 17.9 million won to 18.8 million won, up about 5.0%, while the 'Classic Flap Bag Small' climbed from 17.2 million won to 18.08 million won, up about 5.1%.
The 'Boy Chanel flap bag' increased from 11.73 million won to 12.35 million won, up about 5.3%, while the 'Classic Chain Wallet (WOC)' rose from 5.99 million won to 6.355 million won, up about 6.1%.
Chanel, which has raised prices for the 'Nth' time every year, has already implemented its fifth price increase this year.
Earlier, Chanel raised the prices of some bags, including the Classic Flap Bag, by about 7% on Jan. 13, and carried out three price increases in April alone. On April 1, it raised beauty product prices by an average of 3% to 4%. On April 2, it increased the price of the 'CHANEL 25 Handbag' by an average of 3%, and on April 14, it raised fine jewelry prices by an average of 5% and watch prices by 4%.
As prices rise, the brand's exclusivity stands out more, while also helping protect performance.
Industry observers say Chanel's pricing strategy is helping preserve brand exclusivity while also supporting earnings.
In fact, Chanel continues to grow in South Korea despite its ongoing price increases.
According to financial results released by Chanel Korea in March, sales last year came to 2.013 trillion won, up 9% from a year earlier. Operating profit rose 25% to 336 billion won, while net profit increased 24% to 256 billion won.
Chanel Korea's sales continued to grow from 1.2238 trillion won in 2021 to 1.5913 trillion won in 2022, 1.7038 trillion won in 2023, and 1.8446 trillion won in 2024, before surpassing 2 trillion won for the first time last year and setting a new record.
Chanel Korea has said that the company saw balanced growth across all segments, including fashion, fragrance and beauty, and watches and fine jewelry.
[email protected] Kim Su-yeon Reporter