Chanel increases the price tag on its bags

Chanel increases the price tag on its bags

Chanel arm-candy is set to become even more coveted due to a recent 20% price surge

Thanks to those ubiquitous interlocking Cs, the sumptuous quilted leather and tactile weaved-chain strap, we've all spent more than our fair share of time lusting after a little Chanel. The bags are the ultimate investment piece, and now even more so.

On July 1, stores across Europe imposed a 20% price increase on all of the brand's bag models. While previously you would have forked out around £1,600 for a classic black 2.55 it will now set you back an even more purse-stretching £2,045.

If we want to compete with Style Queens like Alexa Chung, Rachel Bilson and Cameron Diaz, who are rarely seen without their Chanels in tow, it looks like we'll be forced to spend a while longer saving our pennies!

By Hayley Spencer

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