Add Yahoo as a preferred source to see more of our stories on Google. Seventy years ago, Gabrielle “Coco” Chanel introduced what would become one of her brand’s quintessential products: the 2.55 bag.

A Chanel Classic Flap that cost $4,800 in 2019 now sells for over $9,500. That's nearly doubled in just a few years. For the same bag. The same leather. The same hardware.

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PARIS — Bad news for Chanel customers: the French luxury house is raising prices again. Bruno Pavlovsky, president of fashion and president of Chanel SAS, said the brand was hiking the cost of its ...