It’s unlikely. Chanel historically does not mark down the prices of their bags to control their value. In recent years, the prices of Chanel handbags have also been steadily rising to maintain their exclusivity amid an increase in demand, especially in key markets in Asia.
However, according to luxury goods analyst Flavio Cereda, it’s equally unlikely that Chanel will embark on such drastic price hikes beyond 2020. International travel is also expected to return in the second half of 2021, which would make further price increases unsustainable since shoppers will be able to buy Chanel bags in other markets at cheaper prices.